First Independent Mena Newspaper
Voices are rising in Morocco for a new donation campaign for the anti-coronavirus fund, which now has 9 billion dirhams ($975 mln). The fund was spurred by King Mohammed VI when the virus first outbroke in Morocco and gathered some 33.7 billion dirhams ($3.7 bln) thanks to generous donations from Moroccan enterprises and individuals. The […]
The embezzlement of humanitarian aid is endemic among the corrupt Polisario and Algerian officials, despite international outcry by the EU and humanitarian NGOS. This time, aid worth $12 million was derailed to enrich merciless separatist officials in the Polisario-run Tindouf camps. The aid was offered in April and May by the EU, Canada, Switzerland, Italy, […]
The European Bank for Reconstruction and Development (EBRD) approved on Tuesday a €40 million loan package to Moroccan bank “Crédit Immobilier et Hôtelier” to enable it enhance the resilience of local trade and businesses affected by covid-19 pandemic. Under the agreement sealed by the two parties, the EBRD will provide a €20 million loan to […]
Lebanon Sunday garnered €250 million ($294.5 million) in pledges at a virtual international conference of donors, led by France’s President Emmanuel Macron. The conference was meant to help the Middle East country cope with the aftermath of last week deadly explosions at Beirut port. The conference was attended by a dozen of world leaders who, […]
Morocco will set up a strategic investment fund worth $4.8 billion to help the economy recover from the coronavirus impact, Finance Minister Mohamed Benchaaboun said Tuesday at a news conference in Rabat. The fund is part of a stimulus package of 120 billion dirhams ($12.8 bln) unveiled by King Mohammed VI at the Throne Day […]
Morocco will expand social welfare protection to all its citizens within five years through a gradual approach, said Finance Minister Mohammed Benchaaboun, after King Mohammed VI urged in the State of the Nation speech on July 29 speeding up such a national project. Benchaaboun said the plan will proceed gradually with the first phase (2021-2023) […]
King Mohammed VI said Morocco will inject 120 billion dirhams (12.8 billion dollars) as a post-coronavirus crisis stimulus package to offer incentives and come up with solidarity measures to support businesses, especially small and medium-sized enterprises. The package represents 11% of Morocco’s GDP, “a proportion that will place Morocco at the forefront of the most […]
The African Development Bank granted Morocco $1.1 billion in loans over the last 8 months to finance strategic sectors, head of the bank’s branch in Morocco Leila Farah Mokkadem said. “Morocco is a country with which we have enjoyed close ties for five decades,” she told MAP, adding that Morocco is the bank’s first client. […]
The European Bank for Reconstruction and Development (EBRD) approved on Thursday a $100 million loan to Moroccan “Banque Centrale Populaire (BCP) to support local small businesses affected by the coronavirus pandemic. The loan is the second to the country under the EBRD Solidarity Package, set up to meet the immediate short-term financing needs of existing […]
Germany will extend Morocco loans and grants worth €701.3Mln within the framework of financial and technical cooperation between the two countries. Three agreements related to the funding were signed Wednesday in Rabat by Minister of Economy and Finance Mohamed Benchaaboun, and Germany’s Ambassador to Morocco Götz Schmidt-Bremme. The agreements reflect the excellence of cooperation relations […]