First Independent Mena Newspaper
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 […]
The Board of Directors of the African Development Fund, the African Development Bank Group’s concessional window, approved a €38.84 million loan to Benin to help implement the initial phase of the Economic Governance and Private Sector Development Support Program, Abidjan-based lender said in a statement. The program designed to assist the Beninese government in its […]
The Board of Directors of the African Development Bank Group, has approved a loan of €81.9 million to Tunisia to implement the Treated Wastewater Quality Improvement Project for Climate Resilience Building (PAQEE-RCC). The approval, the bank said on December 13, came at a meeting in Abidjan on 6 December. PAQEE-RCC will improve the treatment of […]
The World Bank has resumed cooperation with Gabon several months after freezing all financing projects in the central African country in a reaction to the military coup of August 30 following an electoral process deemed rigged by the military. The Washington-based lender, local media ‘Gabon Review’ reports, notified the ministry of Finance and Economy in […]
The African Development Bank (AfDB) announced Tuesday December 12 an agreement with the Lome-based West African Development Bank (BOAD), a line of credit agreement of €70 million to bolster the regional bank’s support to the private sector in the West African Economic and Monetary Union (WAEMU). The agreement, AfDB notes, was signed in Lomé on […]
The Moroccan government will have to spend 900 million dollars (9 billion dirhams) in 2024 and 2025 on the new deal struck with teachers to end their long strike, education minister Chakib Benmousa said. After negotiations with teachers’ unions, the government had agreed to a wage hike of 1500 dirhams and an increase in other […]
The African Development Bank (AfDB) announced Monday the approval by its board of directors of two loans valued at €165 million earmarked for the implementation of the Diversification, Industrial Acceleration, Competitiveness and Employment (DAICE) Program, an important aspect of the country’s National Development Plan 2021-2025. The first loan is worth €120 million and the second […]
Mauritania and World Bank signed Monday in Nouakchott two soft loan agreements worth $85 million for the financing of two projects. The first deal is about additional funding for the project to support decentralization and the development of intermediate towns (Moudoun Project), to the tune of $25 million. The project seeks to improve access to […]
While China has announced plans to boost the use of the Chinese currency renminbi in Southern Africa, part of Beijing’s efforts to diminish use of the dollar, a new study by Carnegie Endowment for International Peace (CEIP) highlights a number of major obstacles that stand in the way of BRICS’ de-dollarization efforts. In a visit […]
The European Bank for Reconstruction and Development (EBRD) has included Guelmim-Oued Noun region into its Green Cities Program and will thus contribute with a €12 million loan to improve drinking water supply in rural areas and upgrade four existing wastewater treatment plants. “This is a trigger investment that will initiate the region’s participation in the […]