First Independent Mena Newspaper
The African Export–Import Bank, Afreximbank, will lend Tunisia $1.3 billion to support public and private enterprises as well as public and private banks. Afreximbank director of trade financing Aymen El-Zoghbi said $500 million will be allocated to boost state-run and private companies. The remaining $800 million will be earmarked for supporting banks in private and […]
Algeria Sunday pledged to inject $150 million into the Tunisian Central Bank, BCT, in support to its neighbor, which has been struggling financially and economically since the 2011 revolution. President Abdelmadjid Tebboune made pledge during a meeting with Tunisian leader Kais Saied who was on his maiden international visit to Algeria. “Algeria is poised to […]
The African Development Bank (AfDB) expects Morocco’s economic growth to reach 3.7 pc in 2020 and 3.9 pc in 2021 from a 2.9 pc growth posted last year. In its African Economic Outlook 2020 report, the African bank says the projected GDP in Morocco is supported by the sustained efforts made to improve macroeconomic conditions […]
Hassan II Fund for Economic and Social Development has offered $210 million (2 billion Dirhams) as a contribution to the integrated program to support funding of enterprises. A ceremony was chaired in this regards by King Mohammed VI in a series of measures taken recently to promote the creation of small and medium sized enterprises […]
Three dams with a total capacity of 367 million cubic meters will be built in Marrakesh region (central Morocco) within the frame of the National Drinking Water Supply and Irrigation Program worth €10.8 billion. According to local officials, the three new dams will enhance drinking water supply in the region and help cope with the […]
In implementation of King Mohammed VI’s instructions to make the banking system conducive to development and to lower the rate of interest on loans within the framework of the integrated program of support and financing of SMEs, it has been decided that the interest rate will not exceed 2%. In response to the wishes of […]
The European Commission (EU) signed four guarantee agreements worth €216 million that will help unlock €2 billion to be invested in renewables, urban infrastructure and start-ups in Africa and the EU Neighborhood. The guarantees were signed with the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the German KfW Group and […]
King Mohammed VI presided, on Monday at the Royal Palace in Rabat, over a ceremony on an integrated program destined to support and finance enterprises. The ceremony was also marked by the signing of three agreements related to the program. King Mohammed VI is thus following up on the call he launched last October at […]
Morocco’s Casablanca-Settat region and the International Finance Corporation (IFC) inked on Thursday a $100 million financing agreement for the construction of two new tramway lines in Casablanca and other infrastructure projects. The funding deal was signed by Mustapha Bakkoury, President of the Regional Council of Casablanca-Settat region, Nabil Belabid, Director General of Casa Transports and […]
There were 564,549 people employed in 2019 in Moroccan public administration, says Human Resources Report 2020 released by the ministry of Economy, Finance & Administrative Reform. In the North African kingdom, 90 pc of public servants are working in six ministerial departments. The ministry of education is the largest employer accounting for 48.6 pc of […]