First Independent Mena Newspaper
The World Bank has added $100 million to an existing $200 million loan to help Morocco manage natural risks and hazards. “Protecting the people and economy against natural hazard can save Morocco over US$800 million a year,” said Jesko Hentschel, World Bank Maghreb Country Director. “Developing more resilience to the risk of natural disaster is […]
Morocco’s economic growth is expected to rebound to 4.6 pc in 2021 as drought conditions ease, policy remains accommodative, and virus and vaccine trends are favorable, says the World Bank in its latest report on global economic prospects. The updated WB projections, which are taking into account various external and internal factors, confirm the International […]
The World Bank has approved a $450 million loan to support Morocco’s long-term strategy to strengthen human capital and fund the 3rd phase of the country’s National Initiative for Human Development, focusing on early childhood development (ECD). “Morocco’s future social and economic trajectory is conditioned by improving its ability to accelerate progress in accumulating human […]
The African Development Bank (AfDB) has renewed its commitment to support a socially inclusive and ecologically sustainable recovery in Morocco, said the Bank country manager for Morocco Brice Mikponhoue. Speaking at the opening of a remotely-held seminar on social and environmental safeguards that frame AfDB’s operations in the Kingdom, Mikponhoue said that this joint event […]
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. […]