First Independent Mena Newspaper
The European Bank for Reconstruction and Development (EBRD) will contribute €65 million to fund projects aimed at expanding the capacity and optimizing the operations of the multipurpose terminals of the ports of Casablanca and Jorf Lasfar. The financing agreement was signed by EBRD President Odile Renaud-Basso and Managing director of Morocco’s port management company, Marsa […]
Finance minister Nadia Fattah Alaoui said the introduction of cryptocurrencies in Morocco would help promote financial inclusion provided they are governed by a sound legal framework. The Moroccan central bank said a draft law was undergoing the process of adoption ending a ban that has been in place since 2017. The central bank was also […]
The International Monetary Fund has urged Libyan authorities to prioritize spending through an approved and unified 2025 budget to prevent pro-cyclical expenditure and enhance resource management. The IMF announced on December 10 that Libya’s recovery in oil production has led to an upward revision of the country’s GDP growth forecast for 2025. In its report […]
The African Development Bank (AfDB) has extended Morocco a €104.7 million loan to boost the water sector in the Kingdom. The funding is destined to speed up the digitalization processes of the National Office for Electricity and Drinkable Water (ONEE), boost drinking water production in several urban areas (Asfalou, Bouhouda and Agourai), and improve the […]
Morocco’s GDP grew 10% to 146 billion dollars in 2023, the high commission for planning, HCP, said in its final statistics. Financial and non-financial firms contributed by 45% to the national GDP, while public administrations contributed by 15.2%, HCP said in a recent report. Households and non-lucrative entities contributed by 29%, it said, adding that […]
The freezing of assets belonging to active or retired Algerian military generals and elites is meant to exert pressure on the authoritarian and military regime of Algeria. The freezing of assets, estimated at several billion dollars, is aimed at combating terrorism financing and to preserve peace and security, which are top priorities for international organizations […]
Morocco’s railway operator ONCF has presented a “strategic” plan to expand the service for a total cost of 8.8 billion dollars, in a project that drew interest of investors offering up to 14 billion dollars, head of the African Development Bank chief Akinwumi Adesina said. The project was a “big success” for Morocco, Adesina said […]
Curtains fell on the Africa Investment Forum in Rabat which helped the African Development Bank (AfDB) mobilize a total funding of $29.2 billion for 47 projects, covering critical areas such as water supply, energy, transport, mining, pharmaceuticals, private equity, tourism, and infrastructure. The event drew 2,300 investors and delegates from 83 countries, AfDB chief Akinwumi […]
The African Development Bank signed a loan agreement worth 350 million euros in support of Moroco’s economic governance, climate resilience, water management, and industry as it also plans to extend a financing of 650 million euros to help Morocco develop transport infrastructure. As part of the first loan, signed during the Africa Investment Forum (AIF) […]
Libya is enacting extraordinary measures to tackle its persistent liquidity crisis. On December 5, 2024, the Central Bank of Libya announced a partnership with the British company ‘De La Rue’ to print 30 billion dinars (approximately $6.25 billion) in new currency. This decision follows years of acute financial difficulties, compounded by political instability since the […]