First Independent Mena Newspaper
The German reconstruction bank, Kreditanstalt für Wiederaufbau (KfW), is supporting the drinking water Supply and Sanitation sector in Morocco with €55.5 million. Under a financing agreement signed Thursday in Rabat between KfW and Morocco’s National Office for Electricity and Drinking Water (ONEE), €28.5 million will finance drinking water supply to small and medium-sized centers. This […]
The Government of Flanders this year has committed 1 million euros to the Africa Climate Change Fund (ACCF) to support five projects in three African countries – Malawi, Mozambique and South Africa. According to the African Development Bank, the project will contribute to demonstration of an innovative results-based finance model for adaptation to climate […]
The EBRD is strengthening the competitiveness of small firms in Tunisia by increasing the availability of funds, with a €5 million loan to Compagnie Internationale de Leasing (CIL). Access to finance and liquidity constrain the growth of many private businesses in the country. Micro, small and medium-sized enterprises are the core of the Tunisian economy, […]
Germany will contribute €571 million to the implementation of Morocco’s reforms seeking to improve business and investment climate, update the financial sector and strengthen advanced regionalization. The reform partnership MoU, signed Friday in Berlin, falls in the frame of the G20 Initiative Compact with Africa and aims at developing further the potential of the private […]
The African Development Bank (AfDB) approved a €100 million loan for the Municipal Equipment Fund (FEC) to finance new investment and public infrastructure projects in Morocco. These projects will help improve the quality of public services, especially in rural areas as well as spur revenue generating activities, according to an AfDB press release. “We are […]
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 […]