First Independent Mena Newspaper
The European Investment Bank (EIB) has provided Moroccan CIH Bank with a €60 million funding destined to support SMEs affected by the global health crisis generated by Covid-19 pandemic. The two financial institutions signed on Wednesday an agreement to support Moroccan companies to stimulate the economic recovery from the impact of the pandemic. The EIB […]
The kingdom of Morocco has emerged as one of the leading international investors in Africa with foreign direct investment (FDI) valued at about $4 billion according to a report by the Moroccan Agency for Development of Investment and Export (AMDIE) and France-based consulting firm, Mazars. The report, dubbed “Analyse de l’investissement en Afrique en 2020 […]
Morocco has adopted a new law to fight money laundering which enables tracking and seizing funds acquired illicitly in line with FAFTA jurisdictions. This law helped the country leave the grey FAFTA list and strengthen its legal arsenal to address strategic deficiencies in its regimes to counter money laundering, terrorist financing, and proliferation financing The […]
President of the European Bank for Reconstruction & Development (EBRD), Odile Renaud-Basso has voiced the Bank’s strong commitment to support Morocco’s economic recovery, regional integration, green economy, youth employment and gender equality. Mrs. Renaud-Basso made the remarks during her virtual talks Monday and Tuesday with Moroccan officials including ministers of economy Mohamed Benchaaboun and Foreign […]
The Japan International Cooperation Agency (JICA) will contribute to the financing of Morocco’s territorial development projects with a $165 Mln loan. The loan agreement was concluded recently between JICA and le Fonds d’Equipement Communal (FEC), which is trying to diversify its sources of financing on an international scale. This comes as Morocco is embarking on […]
Tunisia’s finance minister returned from the US with a grant of $500 million intended to finance infrastructure projects. “Our visit to Washington was important and fruitful with International Monetary Fund, World Bank and American officials”, minister Ali Kooli told Reuters. Kooli was in Washington to start discussions about a new loan program with the IMF. […]
The European Union has contributed up to one million euros to a twinning project between French and Tunisian public television with the aim of modernizing the North African country’s state-run television, Business News reports. The project to span over 24 months aims chiefly at backing the modernization of Tunisia’s public media in line with the […]
Despite the coronavirus crisis impact, Morocco maintains macroeconomic stability, low inflation and a relatively comfortable level of foreign exchange reserves that act as external liquidity buffers, Fitch Ratings said. The agency affirmed Morocco’s long-term foreign-currency issuer default rating at ‘BB+’ with a Stable Outlook. Fitch Ratings however expects the government’s budget deficit to stand at […]
The African Development Bank will grant Morocco nearly one million US dollars intended to support efforts to improve the business climate and to strengthen the country’s resilience in the face of COVID-19 economic crisis by accelerating the country’s post-pandemic recovery. The grant agreement was signed Monday by Morocco’s Ministry of Economy & Finance and […]
Tunisia has officially asked the IMF for a new program to back up the economic reforms to alleviate the strain on public finances. The Tunisian government agreed an economic reform package with powerful labor union UGTT at the end of last month that tackles subsidies, taxes and state firms, and which was seen as opening […]