First Independent Mena Newspaper
Morocco’s Central Bank, Bank Al-Maghrib, and the European Bank for Reconstruction and Development organized on Wednesday in Rabat a workshop on London Inter-bank Offered Rate (LIBOR) reform and the new money market benchmark in the North African country. Participants in the workshop discussed the implications of changes in the benchmark indexes used on the international […]
Morocco issued on Thursday an international bond worth 1 billion Euros, the finance ministry said, noting the success of the sovereign notes sales as demand hit €5.3 billion. The bond has a maturity of 12 years and an interest rate of 1.5% as Morocco tapped the international market at a very propitious time benefiting for […]
The European Union is providing €10.3 million support package to the UNHCR’s Emergency Transit Mechanism (ETM) in Rwanda, which provides a life-saving avenue out of Libya for people in need of international protection, with a view to their further resettlement. The announcement was made by Commissioner for International Cooperation and Development Neven Mimica during a […]
When Morocco retrieved the southern provinces from the yoke of Spanish colonialism, Laayoune was a smaller town lacking basic infrastructure and services like other cities in the Sahara. Now it has become a vibrant city topping the national average in terms of human development and well-being as the region enjoys the lowest poverty rates in […]
The Islamic Development Bank (IsDB) and the European Investment Bank pledged to commit $1b each in co-financing green projects, during the 2019 Sukuk Summit, hosted in Luxembourg. Together with the European Investment Bank (EIB), IsDB signed a Memorandum of Understanding (MOU) to strengthen cooperation and committed $1 billion each in co-financing green projects through to […]
China’s Export Import Bank and the Casablanca-based Attijariwafa Bank will join efforts in a $5 billion bank dedicated to boosting African exports to China and promoting industrial activity in the countries where the Moroccan bank operates. The deal attests to the credibility and large network of Moroccan banks in Africa, as well as Morocco’s efforts […]
Morocco’s economic growth is expected to reach 2.8 percent in 2019 against 3 pc posted last year due to a slight decline in agricultural output and a moderate recovery in non-agricultural activity, said on Thursday Nicolas Blancher, Chief of the International Monetary Fund (IMF) team that visited Morocco from Oct.29 to Nov.7. Morocco’s economic fundamentals […]
The World Bank’s Board of Executive Directors has approved a $300 million loan (€271.8 million) to support the strengthening of Morocco’s municipalities, an objective that is part of the Kingdom’s broader efforts to upgrade urban services and turn urban conglomerations into engines of growth and job creation. The Municipal Performance Project aims to build capacity […]
The Moroccan city of Benguerir (near Marrakech) is hosting this Nov.4-5 the 2nd annual ministerial conference of the Initiative for the Adaptation of African Agriculture to climate change (AAA Initiative). The event, organized under the theme: “Food Security Facing Climate Change”, brings together representatives of key financial institutions, donors, the private sector and scientific researchers […]
The African Development Bank Shareholders have approved a landmark $115 billion capital increase, doubling the bank’s capital base from $93 billion to $208 billion, and strengthening thus the Bank’s leadership on development financing for the continent. This largest capital increase in the Bank’s history was approved at an extraordinary shareholders’ meeting last week in in […]