First Independent Mena Newspaper
The International Monetary Fund (IMF) is “impressed” by Morocco’s determination to pursue its structural reforms and endeavors to make its economy more inclusive, said Wednesday in Rabat IMF Managing Director, Kristalina Georgieva. She cited as an instance the new development model being elaborated by a special committee and the Integrated Program for Enterprise Support and […]
Algeria’s public debt rose to 45% of GDP while its foreign exchange reserves continue to shrink on the back of falling oil prices in international market boding ill for the social peace of a country where dissent is growing. Newly appointed Prime Minister Abdelaziz Djerad sounded the alarm bell recently while speaking to MPs about […]
The UAE’s Khalifa Fund for Business Development has provided about $10 million in financial support to Burkina Faso to create 50,000 jobs for the youth in the West African nation. The agreement was signed by the president of the Khalifa Fund, Hussain Jasim Al Nowais, and the Burkinabe minister in charge of youth, Salfo Tiemtoré. […]
The European Bank for Reconstruction & Development (EBRD) has approved a €20 million loan to Moroccan Bank “Crédit du Maroc” to boost green investment of SMEs and contribute to the development of value chains in the North African Kingdom. The EBRD funds will be extended as sub-loans to local SMEs that plan to invest […]
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 […]