First Independent Mena Newspaper
Casablanca Finance City (CFC) and Belgian Finance Center (BFC) have signed a partnership deal, laying the foundations for a lasting cooperation in promoting investment opportunities between Belgium, Morocco and Africa. The partnership will provide a platform for exchange, encouragement of best practices, and knowledge sharing in the fields of SME financing and corporate governance, the […]
The Economic and Monetary Community of Central African Countries raised €3.8 billion at a two-day round table in Paris. The Funds are destined to finance the bloc’s Regional Economic Program meant to boost growth by 2025. The program comprises 84 projects, including 11 presented as priority integrating projects. The total cost of these projects has […]
The Unites States and the European Union have pledged to back Tunisia’s tourism industry severely affected by the covid-19 pandemic with a combined investment valued at more than €100 million. The US support will come from its development agency, USAID, which has pledged to mobilize between $30 million and $50 million for “Visit Tunisia” program […]
The European Investment Bank (EIB) will loan Egypt by year’s end €1.1 billion in form of financing package for the implementation of three transport projects in the Arab country. The package will come in two installments. The first tranche will take place in December and valued at €600 million, the Egyptian cabinet said in a […]
The French Development Agency (AFD) has earmarked €300,000 to fund a pan-African training program for museum and heritage professions in Africa to be spearheaded by Morocco’s National Museum Foundation (FNM). The grant-related agreement was signed Monday in Rabat by French Foreign Minister Jean Yves le Drian, President of the FNM Mehdi Qotbi, and AFD Director […]
The African Development Bank extended a loan of €118 million to help Morocco address the social challenges triggered by the coronavirus pandemic. The loan is part of a program launched in 2019 by the bank to help Morocco improve its social protection mechanisms. In this respect, the current loan adds to a credit […]
The International Monetary Fund, the World Bank and the Kingdom of Morocco announced the postponement of the Marrakech annual meetings for a year until October 2022 The annual meetings are usually held for two consecutive years at the World Bank and IMF headquarters in Washington, and then in a member country every third year. […]
The Spanish government has approved, Tuesday, a €5 million loan to Morocco for the construction of two desalination plants in the cities of Zag and Moulay Brahim. The loan will be granted to the National Office for Electricity and Drinking Water (ONEE) through the Fund for the internationalization of the company (FIEM), according to the […]
The World Bank approved on Tuesday a $150 million funding in additional financing for Morocco’s Urban Transport Program, which seeks to improve the performance and the quality of public transport services. The additional funding will enable Morocco to adapt its program to address new priorities of mobility, including those related to the impact of covid-19 […]
The prompt measures adopted by Morocco after the outbreak of the coronavirus outbreak helped the country contain the economic and social impact of the pandemic, said the IMF, noting that the country should brace for deep recession this year. The Moroccan economy will contract by 6 to 7% this year due to the impact of […]