First Independent Mena Newspaper
The Moroccan government has laid out the priorities for the upcoming fiscal year predicting the economy to grow 3.2%. In a document outlining the breadlines of the upcoming budget, the government stressed the need to continue the large-scale reforms launched by Morocco in the wake of the pandemic, notably social reforms, public sector institutions upgrade […]
The US Agency for International Development (USAID) announced on Friday that it has provided an additional $2.5 million to WHO and UNICEF to partner with Morocco to enhance the country’s capacity of vaccine service delivery points, provide crucial cold chain, and logistics support. The USAID financial contribution will also fund initiatives destined to help local […]
The International Finance Corporation, IFC, a member of the World Bank, will invest $100 million in the first private sector green bond in Egypt, to help fund climate-smart projects, alleviate greenhouse gas emissions, and support Egypt’s shift to a greener economy, the institution said in a statement. The bond, the first by the private sector, […]
The African Development Bank, through its Financial Sector Development’s Trade Finance operations, has launched a Transaction Guarantee instrument designed to provide up to 100% cover for non-payment risk to regional and international banks, for trade transactions initiated by local banks in Africa. The guarantee will cover an array of trade finance instruments, including confirmed letters […]
By taking a series of economic and social reforms, Morocco is best equipped to transform the crisis propelled by the COVID-19 pandemic into an opportunity, governor of Morocco’s central bank Abdellatif Jouahri said. King Mohammed VI has ordered a set of reforms that helped mitigate the impact of the crisis, said Jouahri in a […]
Morocco’s economic growth will stand at 2.9% in 2022 after 5.8% expected this year, the planning agency said, noting that next year’s forecast is based on an average cereals yield. This year’s forecast is based on indicators of an improvement in domestic and foreign demand amid positive prospects for the mining, industrial and construction sectors, […]
Heads of State and Government from some 15 African countries attended the 20th replenishment meeting of the International Development Association, commonly known as IDA-20. This year, the African heads of state have called for an ambitious replenishment of the ida-20, at least $100 billion, to support their recovery agenda and help revive their economies, which […]
The African Development Bank, AfDB, Wednesday said it has lent Tunisia €60 million to back the North African country’s economic recovery plan and social inclusion, Webdo Tunis reports. The credit line, according of the bank, will support the dynamics of economic recovery by improving the investment climate, preserving employment and promoting social inclusion through new […]
French Development Agency (AFD) has provided Morocco €150.6 million destined to support the Kingdom’s new agricultural strategy “Generation Green 2020-2030”. Two agreements were signed Monday in Rabat by the two sides in presence of France’s Ambassador to Morocco Hélène Le Gal. The AFD funding will help the North African Kingdom to strengthen its agricultural marketing […]
Morocco’s lower house adopted a draft bill on tax reform that aims at achieving tax equity and boosting state tax revenues to fund development projects. The new text also aims at curbing the tax evasion and reduce the size of the informal sector, while making tax incentives more rational in case of the absence of […]