First Independent Mena Newspaper
The European Bank for Reconstruction and Development (EBRD) has approved a €20 million loan for Société Générale Maroc to enable the bank support SMEs involved in value chains and their green investments. The loan is part of an EBRD program focusing on improving SMEs participation in value chains supported by the European Union and the […]
Belgium will allocate Morocco €3 million, over four years, to promote jobs creation and youth self-employment. The funds will be granted under a Moroccan-Belgian project dubbed “Supporting Youth Entrepreneurship Development in Morocco.” The project, whose related agreement was signed on Wednesday in Rabat, will focus in a first phase on four regions: Beni […]
A regional conference on the promotion of oases in North Africa and Mauritania held in Tozeur, Tunisia, last week underlined that $24 million funding was needed to preserve the green areas in the region desert. Participants in the conference, recognizing oases as a historical, cultural, environmental, civilizational, national and international heritage that must be preserved, […]
The World Bank has approved a $55 million loan to Morocco to enable the country develop youth employability programs in the Marrakesh-Safi region within the frame of a new project destined to provide economic support to youths. This project will combine training for lower skilled youth, support potential entrepreneurs and investments in local businesses in […]
The International Finance Corporation (IFC) announced it has signed last week a €14 million loan agreement with KMR Holding Pédagogique (KMR), a leading pan-african higher education provider, to expand medical training in Morocco and Senegal and increase the number of health professionals in the two countries. KMR will use the financing to set up Morocco’s […]
The European Bank for Reconstruction & Development (EBRD) announced on Thursday the approval of a €2 million loan to Société Maghrebine de Monétique S.A. (S2M), a Moroccan firm that develops e-payments systems. The loan will enable S2M to enhance its competitiveness and increase employment opportunities for young people with on-the-job-training programs Under the Bank’s Blue […]
Morocco is to launch in the course of this year an international borrowing of €1 billion, to be followed by another one of the same amount in 2020. This loan is provided for in the 2019 Finance Law. A roadshow will be conducted in the coming weeks to mobilize investors for both operations, reported Media24 […]
The World Bank’s new president, David Malpass, announced over the week plans to boost lending to African countries to help fight poverty. Malpass made the statement after touring Madagascar, Ethiopia and Mozambique on April 29-May 3. He met with these countries’ leaders and stakeholders and visited World Bank-funded projects. Africa is working at reducing poverty […]
Morocco’s central bank, Bank Al-Maghrib (BAM) will hold its key policy rate at 2.25 pc in 2019 due to subdued inflation and a neutral shift in US Fed policy, says Fitch Solutions in its latest report on the North African Kingdom. In a bid to protect foreign exchange reserves and limit imported inflation, BAM will […]
The United Arab Emirates and Saudi Arabia have granted Sudan a $3 billion aid package, of which $500 million will go to the central bank of Sudan. The move is meant to strengthen Sudan’s financial position, ease the pressure on the local currency and increase stability in the exchange rate, Saudi state news agency SPA […]