First Independent Mena Newspaper
The European Bank for Reconstruction and Development (EBRD), the Green Climate Fund (GCF), the European Union, and Canada through the EBRD’s High-Impact Partnership on Climate Action (HIPCA) have agreed to provide Moroccan Bank of Africa a €70 million loan destined to boost access to green finance for private sector and promote capacity building for women-led […]
Morocco’s Minister of Economy and Finance, Nadia Fettah Alaoui, outlined significant progress in legal dispute resolution, public sector reform, and inflation management during a recent parliamentary question time. Highlighting efforts to strengthen state dispute management, Fettah Alaoui said that reforms have led to cumulative savings of 25.4 billion dirhams over five years by reducing financial […]
The French Development Agency (AFD) has vowed to support the development momentum in the Dakhla-Oued Eddahab region through strategic partnerships with local stakeholders. The pledge was made by AFD CEO Rémy Rioux in a statement on behalf of the French state, following a meeting in Dakhla on Monday, with the Wali of the Dakhla-Oued Eddahab […]
French development agency (AFD) offered a financing of 350 million euros in support of decarbonization efforts led by Morocco’s phosphates and derivatives giant OCP. A deal was signed between the two institutions on May 12, as OCP seeks more funding for its 13 billion-dollar decarbonization plan. OCP had announced a plan to use100% clean energy […]
Cash-strapped Tunisia reported a 3% decrease in its foreign exchange reserves to 22.9 dinars ($ 7.5 bln), enough to cover 99 days of imports, as the country struggles to access foreign debt amid a biting social and economic crisis. The decline follows the government’s $1 billion Eurobond repayment in February, reducing import coverage. The government […]
The French Development Agency (AFD) group is planning significant investments worth around €150 million in Morocco’s southern provinces, announced the Agency’s CEO, Rémy Rioux. Rioux, who is on a working visit to Morocco at the head of a high-level delegation, said at a press briefing, in Laayoune on Saturday, that “the AFD Group will now […]
Following years of unending diplomatic crises and worsening economic conditions at home, Algeria’s currency has fallen to unprecedented levels against the Euro in the country’s black market, the genuine metric for the country’s financial health. Demand on foreign currencies as an investment option surged due to uncertainties caused by the regime’s policies both at home […]
The Morocco-Nigeria gas pipeline project is gaining momentum as the United Arab Emirates has agreed to contribute to the funding of this $25 billion project to ship Nigerian gas to Europe through Morocco. The announcement was made lately by Morocco’s Minister of Energy Transition Leila Benali in a statement at the Moroccan Parliament. She told […]
Algeria will have to further tighten the belt as barrel prices drop to below $60, boding ill for its export, fiscal deficit, and social peace. Algeria has based its 2025 budget on a barrel price of $70, with over 90% of the country’s economy dependent on oil, gas and byproduct exports. International risk consultancies are […]
Morocco’s tourism continues its impressive performance with 2.4% increase in receipts by the end of March 2025, compared to the same period in 2024, with nearly 24.63 billion dirhams (approximately $2.5 billion), the foreign exchange office said. Tourism has emerged as Morocco’s leading revenue source, surpassing key sectors including automotive, chemicals, food, information technology, and […]