First Independent Mena Newspaper
The World Bank has approved a $250 million loan to help Morocco improve solid waste management which is facing environmental and financial challenges. Moroccan cities are home to more than 60 percent of the population and are key engines of growth for the country. Municipal solid waste management has been among the Government of Morocco’s […]
The EU has pledged 190 million euros in a new financial contribution to Morocco’s post-quake reconstruction efforts. An agreement was signed in that respect by the EU’s commissioner for the neighborhood Olivér Várhelyi and minister in charge of the budget Fouzi Lekjaa. The Commissioner said the EU has injected 5 billion euros in the Moroccan […]
Egypt’s Arab African International Bank (AAIB) issued Africa’s largest private green bond worth $500 million to fund its sustainable development operations. Three renowned development financial institutions: the IFC, the EBRD, and British International Investment (BII) teamed up in this issuance, subscribing to the entire bond. The bond is also reflective of a strong commitment to […]
Zimbabwe has initiated ambitious plans to address its $12.7 billion external debt through a high-level conference bringing together creditors and finance executives. The meeting, featuring President Emmerson Mnangagwa and African Development Bank leadership, aims to chart a path toward clearing arrears and accessing international capital markets. The nation’s debt burden, representing 81 percent of GDP, […]
Speaker of Libya’s House of Representatives (HoR), Aqila Saleh, announced on Wednesday, November 20, a further reduction in the tax on foreign currency transactions, lowering it to 15% from the previous 20%. This adjustment applies to all purposes and marks the second decrease in what is commonly referred to as the “dollar tax.” Last October, […]
Higher food prices triggered a surge in the inflation rate to 33.9% in Nigeria in October, up from 32.7% a month earlier, the national statistics agency said. The jump was attributed to a steep rise in the prices of staples such as maize, rice, and cooking oil, the agency said. In a bid to tame […]
The European Bank for Reconstruction and Development has approved a financing of 200 million euros to support the desalination program of Morocco’s phosphates group, OCP. The loan will finance the construction of two OCP seawater desalination facilities, at its key industrial complexes in El Jadida (Jorf Lasfar) and Safi, the bank said in a statement. […]
The Nigerian Government has secured a $134 million loan from the African Development Bank (AfDB) to strengthen its agricultural sector amid growing food insecurity concerns. This funding aims to increase seed and grain production and improve food security, according to a statement of the Agriculture ministry on November 14. A recent “Harmonized Framework” report, prepared […]
The International Monetary Fund (IMF) has approved $415 million to support Morocco’s efforts to mitigate the negative impacts of climate change on its economic growth. Morocco continues to make progress in bolstering its resilience against climate change and seizing the opportunities from decarbonization, under the Resilience and Sustainability Facility (RSF), said the Fund in a […]
Moroccan financial regulators announced the launch of the futures market which would help the Casablanca stock exchange attract more investors. The launch was announced in a ceremony by bourse regulator AMMC, the finance ministry and the central bank, who all highlighted the importance of the financial instrument in the reforms launched by the country to […]