First Independent Mena Newspaper
The European Commission has approved a €177 million assistance for Morocco within the frame of the Integrated Program for the reconstruction and comprehensive upgrade of the disaster areas (2024-2028), which was drawn up by Moroccan authorities following the earthquake that struck Al Haouz on 8 Sept. 2023. Furthermore, in a joint effort between the EU […]
Canada’s development financial institution, Findev Canada, has approved recently a €20mln loan to the West African Development Bank destined to boost agri-food and renewable energy in West Africa. The loan is the very first agreement between the Canadian financial institution and the West African Development Bank. It will increase financing for agri-food businesses and the […]
Burundi and Belgium have sealed a deal worth €75 million covering five cooperation areas namely health, education, agriculture, climate change, and good governance, Cooperation ministry of the central African country said. Albert Shingiro, Burundi’s External Relations and International Cooperation Minister, signed the deal with Belgium’s ambassador Michael Wimmer. The Belgian development agency, Enable, will implement […]
Moroccan banks continue to show resilience despite challenging global and domestic macro-economic conditions, Fitch Ratings says in a new report focusing on the country’s seven largest banks. Banks have built up healthy provisions buffers since 2020 and are well-placed for a continued recovery in profitability in 2024 amid rising interest rates, says the rating agency. […]
The World Bank has approved a new $ 500 million loan for Morocco which is stepping efforts to improve social protection and expand health coverage to include the most vulnerable populations who have been hit the hardest by Covide-19, drought, international conflicts, inflation, Al Haouz earthquake. “Morocco, like many other countries, continues to face a […]
Morocco is drafting a bill to regulate crypto assets in line with the recommendations made during the last G20 Summit, Governor of the central bank “Bank Al-Maghrib”, Abdellatif Jouahri, said Tuesday in Rabat. “The main objective of this legislation is to align Moroccan regulations with international standards concerning crypto assets according to a rigorous approach, […]
The special fund launched to finance reconstruction efforts in quake-hit areas is about to hit the $2 billion milestone or 20 billion dirhams, central bank governor said. The earthquake that hit on September 8 claimed 3000 lives and shattered many villages in the western High Atlas. Up to Dec 15, the fund had 19 billion […]
Morocco’s central bank kept its key rate unchanged at 3% in a context of easing inflation and improved growth rate. Inflation is seen dropping to 6.1% this year and 2.4% next year. In 2022, drought and imported inflation propelled inflation to 6.6%. Morocco’s central bank has decided to keep its key interest rate unchanged at […]
The Saudi Fund for Development, SFD, provided Monday December 18 Mauritania with a soft credit line of $40 million earmarked for the construction and equipment of two educational institutes that are specialized in key sectors of the economy. The deal was signed by SFD CEO Sultan Al-Marshad and Mauritania’s Minister of Economy and Sustainable Development, […]
Developing countries are on a “path to debt crisis” and another “lost decade”, World Bank warns in its latest annual publication, unless African and other debtor governments, private and official creditors and multilateral financial institutions agree on a quick and coordinated action to secure more support from the creditors. The 50th edition of the ‘International […]