First Independent Mena Newspaper
Morocco has secured €450 million funding from German Development Bank (KfW) under three agreements inked Tuesday in Rabat by Minister Delegate in charge of the Budget Fouzi Lekjaa and Director of the German Bank for North Africa Daniela Beckmann. KfW is providing Morocco €100 million to enhance the Kingdom’s resilience to climate change and supporting […]
On Tuesday, December 16, Mauritania’s Minister of Economic Affairs and Development, Dr. Abdallahi Ould Souleymane Ould Cheikh Sidiya, received a delegation from the OPEC Fund for International Development (OFID) in Nouakchott to sign a US$30 million budget support agreement. The delegation was led by Dr Mahmoud Khan, Director of Operations for Africa, and included Mr. […]
Morocco’s Foreign Exchange Office has introduced groundbreaking reforms allowing accredited agents to utilize electronic payment terminals for currency purchases against dirhams using international bank cards. Clients can also receive dirham-loaded prepaid cards, creating seamless circuits between international payment methods and the domestic economy. The measure responds to sustained international payment growth. According to the Foreign […]
The Alliance of Sahel States (AES), comprising Mali, Burkina Faso and Niger, has created a regional investment bank with an initial capital of 500 billion CFA francs (about $820 million), aimed at financing infrastructure and development projects across the three countries. The institution, named the Confederation Bank for Investment and Development (BCID-AES), is designed to […]
Morocco’s central bank kept its benchmark interest rate unchanged at 2.25% on Tuesday, citing contained inflation and steady economic recovery, while projecting growth to reach 5% in 2025 before easing to an average of 4.5% in 2026 and 2027. Bank Al-Maghrib’s board, meeting for its fourth quarterly session of the year, said agricultural output is […]
The European Bank for Reconstruction and Development (EBRD) celebrated record contract signings with Morocco totaling approximately $1 billion in 2025, marking unprecedented collaboration between the development institution and the North African kingdom. The bank’s First Vice President Greg Guyett, who is on a visit to the Kingdom this week, attributed this positive momentum to close […]
Morocco’s government has prioritized public investment performance and its tangible impact on economic growth, job creation, and territorial equity, according to Budget Minister Fouzi Lekjaa. This orientation aligns with royal directives calling for transition from quantitative to qualitative approaches in public investment management. Speaking at the parliament question time, Lekjaa emphasized that sectoral studies demonstrate […]
The European Bank for Reconstruction and Development (EBRD) provides Morocco a €150 million loan to finance the third phase of Saïss Water Conservation Program. The package also includes a $7.5 million grant from the UK under the EBRD’s High-Impact Partnership for Climate Action (HIPCA) multi-donor fund. Recognising the project’s strategic importance for Morocco, the Bank […]
Morocco’s Interbank Monetary Center (CMI) has successfully maintained uninterrupted payment services throughout the national payment ecosystem’s comprehensive transformation into a multi-acquirer market, Director General Rachid Saihi told la Vie Eco. The transition, which began November 1, 2024, follows twenty-one years of structural innovations modernizing payment acceptance nationwide. The CMI expects to process nearly 240 million […]
After the United States and France, it’s the turn of the United Arab Emirates to Invest massively in the Moroccan Saharan city of Dakhla, particularly in renewable energies. Dahamco, a joint Moroccan-Emirati venture, has unveiled lately a $25 billion green ammonia project at the Port of Dakhla to produce multi-million tons of ammonia annually. According […]