First Independent Mena Newspaper
Morocco’s new development model emphasized the key role that Casablanca stock exchange is poised to play and set goals such as increasing market capitalization and initial public offerings. However, the stock market suffered a lethargy in recent years with fewer listings and low secondary market activity as well as a flight of foreign investors. The […]
The European Bank for Reconstruction and Development (EBRD) launched this week in Casablanca the Green Economy Financing Facility Morocco II (GEFF II), a credit line facility of €163.5 million. Green Economy Finance Facility Morocco II (GEFF II) is a €163 million financing line set up by the European Bank for Reconstruction and Development (EBRD) with […]
The African Development Bank has pledged to provide Morocco more than $1 billion over the next two years to enable the North African country cope with drought and support climate-resilient agricultural initiatives seeking to boost farming production and ensure food security. The announcement was made Tuesday by AfDB Vice-Pdt Beth Dunford following her working visit […]
The Board of Directors of the World Bank approved Saturday a $180 million loan to Morocco to finance investment projects in resilient and sustainable agriculture in the Kingdom. The loan, allocated to the Resilient and Sustainable Water Management in Agriculture (RESWAG) project, aims to strengthen the governance of water resources in the agricultural sector, improve […]
Morocco’s Casablanca Finance City topped the continental ranking in the financial centres index, holding the 54th spot globally out of 119, according to a recent report released this March by Long Finance & Financial Centre Futures. Casablanca continues to be the leading African financial centre, while Cape Town and Johannesburg continue to improve their ranking […]
Bank Al-Maghrib, Morocco’s central bank, has decided to hold interest rates steady, contrary to the forecasts of many analysts who were expecting a hike of rates following the coronavirus pandemic, rainfall shortage and the Russia-Ukraine war. During its first meeting for the year 2022, the Board of Directors of the Bank decided to keep unchanged […]
The Moroccan government started distributing subsidies to professionals in the transport sector to help mitigate the impact of the surge in energy prices on the purchasing power of citizens, marking a U-turn in its subsidies policy. This aid will benefit 180,000 professionals in different transport sectors including taxis, trucks, buses, inter-city travel and tourist transport. […]
Fitch Ratings has downgraded Tunisia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC’ from ‘B-‘, reported Tunisian News Agency TAP. The agency said that the downgrade to ‘CCC’ reflects heightened fiscal and external liquidity risks in the context of further delays in agreeing on a new program with the IMF after the political changes of […]
The U.S. Congress has included again the Sahara into its aid program to Morocco in a move that translates the US administration’s recognition of the North African country’s sovereignty over the whole of its territory. The report accompanying the U.S. spending bill, signed into law Tuesday by President Joe Biden, after it was passed last […]
The African Development Bank, AfDB, agreed Monday to allocate to Tunisia a credit line worth 103.95 million euros earmarked for the second phase of a road infrastructure project (PMIR-II) in the North African country. The credit will be used to rehabilitate 230.6 km of road in five governorates according to Minister of Equipment and Housing […]