First Independent Mena Newspaper
The surge of commodities prices and its impact on subsidized products augurs ill for the Moroccan economy which has to prepare for a deepening budget and trade deficits. The price of oil has increased from an average of $70 per barrel to $120 while wheat prices tripled, smashing a record high of $375/t as the […]
In 2021, $120 million private investments were injected in 28 new projects in all Tanger Med’s activity zones, says the port’s management in its latest newsletter. The new projects created 4397 additional jobs. They were made by private entities and corporations from UK, USA, France, Italy, Ireland, China, Portugal, Japan, Germany, Belgium, Spain… The list […]
The Casablanca stock exchange has launched a campaign to encourage SMEs to issue initial public offerings to enable them to access equity funding in an economy dominated by bank financing. Head of the Casablanca stock exchange highlighted to the media the attractiveness of the bourse where he said there is a high demand from investors. […]
The US embassy launched Tuesday a financial support scheme worth $35 million in a favor of Small and Medium Size Enterprises (SMEs) that have difficult access to loans to grow their activities, Business News reports. The US aid agency, USAID, is partnering with the Arab Tunisian Bank (ATB) and US International Development Finance Corporation on […]
Tunisia will benefit from the African Development Bank’s (AfDB) Leveraging Energy Access Finance Framework (LEAF) program to promote investment in decentralized renewable energy backed by the Green Climate Fund. With a commitment of $164 million, the Abidjan-based bank will help scale up decentralized renewable energy (solar home systems, green mini-grids, and solar solutions for commercial […]
The European Bank for Reconstruction and Development has approved loans totaling €50 million to two Moroccan banks, namely “Crédit du Maroc” and “Société Générale Maroc” (SGMB), destined to boost Morocco’s green transition. The loan agreements were signed at the EU-Africa Business Forum in Brussels, co-organized by the European Commission, the African Union Commission, and African […]
The European Bank for Reconstruction and Development (EBRD) is strengthening the competitiveness of the private manufacturing and service sector in Morocco with a €12 million loan to Morocco Mobility and Automotive Centre (ATC), a Moroccan company involved in automotive testing. EBRD said in a statement that the funds will help ATC acquire equipment to set […]
The governor of the Libyan central bank, Saddek El-Kaber, is being pressured by some international parties to cut off financing for the Government of National Unity (GNU) led by Prime Minister Abdulhamid Dbeibeh who has refused to step down, after the country’s Parliament replaced him last week, Update Libya reports, citing some diplomatic sources who […]
King Mohammed VI ordered the allocation of 10 billion dirhams ($1 billion) to mitigate the impact of drought on farmers, the Royal Palace said. Morocco has registered a rainfall deficit of 64% jeopardizing this year’s harvest and putting farmers in a difficult financial position. Hassan II fund for economic and social development will contribute by […]
The World Bank Tuesday announced the intent to provide $400 million to Tunisia in view of backing social reforms. Ferid Belhaj, World Bank Vice President for Middle East and North Africa, made the announcement to Tunisian Prime Minister Najla Bouden during a visit. The World Bank official also indicated that the US-based institution will help […]