First Independent Mena Newspaper
The European Investment Bank has released a first tranche of €100 million out of a total emergency funding of €200 million destined to support Morocco’s efforts against the COVID-19 virus crisis. This is the first EIB financing in the EU’s Mediterranean neighborhood to help national authorities fight the pandemic, the bank said in a press […]
The European Investment Bank (EIB) will grant Al Amana Microfinance NGO a €3 million loan destined to support the development of Moroccan micro-enterprises and very small enterprises (VSEs), with a special focus on supporting women entrepreneurs. The agreement between the two sides seeks to facilitate access of micro-enterprises and VSEs to finance, the EIB explained […]
Al Akhawayn University in Ifrane (AUI) has received a $1.2 million award from the US Department of State through its Middle East Partnership Initiative (MEPI). According to the AUI, the award, entitled “Tomorrow’s Leaders”, rewards the “leadership of the University in Africa on the American educational model, which enjoys the institutional accreditation of the prestigious […]
The European Bank for Reconstruction and Development (EBRD) is supporting small businesses in Morocco to withstand the coronavirus pandemic impact with a €40 million loan, approximately 430 million dirham, to CaixaBank’s Morocco branch. The EBRD loan will help CaixaBank to increase much-needed funding for local small and medium-sized enterprises (SMEs) to address companies’ needs. In […]
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) […]