First Independent Mena Newspaper
The African Development Bank Board of Directors approved a loan of USD 271 million to finance Egypt’s Food Security and Economic Resilience Support Program to support efforts to mitigate the impact of the global shocks on the domestic economy from the Russia-Ukraine conflict and to preserve resilience, Abidjan-based bank said in a statement. The program […]
The World Bank, through its Multilateral Investment Guarantee Agency (MIGA), has just announced a €570 million disbursement guarantee for the construction of a new university campus for the Mohammed VI Polytechnic University (UM6P) near Rabat. These funds are made up of loans whose guarantee lasts up to 10 years and which are allocated to the […]
President of the African Development Bank (AfDB) and Chairman of the Africa50 Board of Directors, Akinwumi Adesina, hailed on Tuesday in Marrakech the coherence of Morocco’s development plan and the resilience of its economy, which has demonstrated its ability to successfully emerge from the Covid-19 crisis. “I salute the Moroccan authorities for the coherence of […]
Morocco reiterated its call for the setting up of a new African investment model that leverages capital from private and institutional investors to make up for a drop in public investments on the back of the successive crises. Speaking at an event by Africa50, an infrastructure investment platform operating under the umbrella of the African […]
The European Bank for Reconstruction and Development (EBRD) co-finances the repowering of the Koudia Al Baida wind farm in the north of Morocco. The EBRD is providing a senior loan of up to €44 million to the Koudia Al Baida Energy Company S.A., owned by the Moroccan Agency for Sustainable Energy (MASEN) and EDF Renewables. […]
President of the African Development Bank Group (AfDB), Akinwumi Adesina, is expected in Marrakesh on Monday for a four-day visit. “This visit renews the African Development Bank Group’s commitment to strengthening the exceptional partnership that has united Morocco with the institution for more than half a century – with results that benefit the population,” AfDB […]
The global economic outlook is “darkening”, the managing director of the International Monetary Fund (IMF) said on Wednesday, citing the war in Ukraine and the “commodity price shocks” it has caused among the main reasons. The IMF plans to publish later this month “a further downgrade” to its growth forecasts “for both 2022 and 2023”, […]
The International Finance Corporation provides al Amana Microfinance, one of Morocco’s largest micro lenders, $8 Million loan to support smaller businesses, especially those run by women. Under the partnership agreement sealed Wednesday, al Amana will use the money to extend its reach to more micro-entrepreneurs and informal enterprises. At least half of the proceeds will […]
The African Development Bank Group will lend Morocco €87 million to help the country implement the Support Program for the Generalization of Social Coverage. The primary objective of this operation is to consolidate the foundations of a viable social protection program based on an integrated and inclusive approach, said the African financial institution in a […]
The European Investment Bank (EIB) and Banque Misr have signed two technical assistance agreements to support small- and medium-sized enterprises (SMEs), Arab Finance reports citing emailed press release on July 6th. The first program will bolster Banque Misr’s credit risk management and help it adopt SME financing best practices. The second according to the statement […]