First Independent Mena Newspaper
The European Investment Bank has provided €115 Mln loan to MEDZ, subsidiary of CDG Group, for the expansion and modernization of ten technopoles located in five regions of Morocco. The funding supports the country’s advanced regionalization policy and its New Development Model and is in line the EU’s Mediterranean Agenda on resilience and climate transition, […]
Economists warned Tunisia could plunge into an inflationary spiral if the central bank accepts direct financing of the state budget. Inflation was already at 8.1% in December and is expected to further raise and take a monetary character if the central bank accepts direct funding of the government. Tunisia’s president Kais Saied has asked for […]
Governments of highly indebted African countries need to take a number of steps to alleviate the stark trade-offs between servicing expensive debt, supporting high and growing development needs, and stabilizing domestic currencies. While South Africa’s elevated public debt at 74% of GDP has almost doubled over the last decade, Kenya’s debt interest payment as a […]
The International Finance Corporation (IFC) will help Crédit du Maroc Bank facilitate the development of small and medium-sized enterprises (SMEs), women’s entrepreneurship, and green projects with a $100 million financing package. This agreement is in line with IFC’s strategy in Morocco, which aims to support private sector-led economic growth and job creation by promoting the […]
The U.S. Agency for International Development (USAID) has announced $12.6 million funding in support for Morocco’s post-earthquake recovery efforts. After the deadly Al Haouz earthquake of Sept.8, Morocco, under the leadership of King Mohammed VI, set out an ambitious five-year plan for “integrated reconstruction and general upgrading of the affected regions” that focuses on a […]
Japan’s international Cooperation Agency, JICA, has provided Burkina Faso with $1.3 million destined to finance acquisition of equipment to be used in the maintenance of roads in the West African country. Burkina Faso’s top diplomat Karamoko Jean-Marie Traore signed the grant deal with JICA local resident Keiichi Okitsu. Traore said that the agreement will give […]
Japan will provide Côte d’Ivoire with equipment worth €5.3 million to support the West African country’s national plan to grow rice and consequently reduce its dependence on importation. Ivorian Minister Finance Adama Coulibaly and country presentative of Japan International Cooperation Agency (JICA) Usui Yukichi signed last week the equipment financing. The West African country plans […]
The Democratic Republic of Congo (DRC) and GEC, a consortium of Chinese companies, have sealed a new mine-road financing deal worth $7 Billion. The funds are mainly intended for the construction of national roads in the central African country. State-owned mining company Sicomines announced the decision over the weekend following talks on an updated version […]
The Republic of Guinea is seeking to raise more than $3 billion in funding from Dubai for projects under its Interim Reference Program (IRP) 2022-2025, Zawya reports. To meet the target, the West African country will showcase the projects at a Round Table of Donors (RTD), an event to be held on the sidelines of […]
Tunisia’s president Kais Saied extended his power grab to the central bank, undermining the independence of the monetary policy in a country that suffers from an aggravating fiscal and economic crisis. Saied made the statement as he seeks direct financing of the state budget by the central bank, a move many economists warn would further […]