First Independent Mena Newspaper
Benin and the Saudi Fund for Development (SFD) have discussed ways to strengthen partnership between the two sides following a meeting between SFD Chief Executive Officer Sultan Abdulrahman Al-Marshad and the West African country’s finance and economy minister Romuald Wadagni. During the meeting that took place in Riyadh, the Saudi capital hosting the headquarters of […]
The United Arab Emirates will pump more investments in Egypt across various development sectors, the Gulf country’s minister of Investment Mohammed Al-Suwaidy has told Egyptian Premier Mostafa Madbouly. Al-Suwaidy conveyed to Madbouly UAE’s eagerness to invest in various development sectors, highlighting that the directive to do so was issued by President Sheikh Mohamed bin Zayed […]
Governments from Africa’s Sahel have recently met with potential donors and other organizations at the Hand-in-Hand Investment Forum 2023, organized by the Food and Agriculture Organization of the United Nations (FAO), where they presented dozens of projects aimed at boosting agricultural production and food security in a sustainable and profitable way. The FAO’s matchmaking initiative, […]
The International Monetary Fund (IMF) will provide Mauritania $253 million in credit facility to help the country mitigate adverse effects of climate change, saharamedias website reports following an agreement between the two sides. The loan will be disbursed in line with the IMF’s resilience and sustainability program designed for the country over the next three […]
By 2022, Morocco’s external debt stood at 423.6 billion dirhams ($41.2 bln) representing 31.8% of GDP, half of which was owed to multilateral development banks, according to finance ministry data. The International Bank for Reconstruction and Development, an offshoot of the World Bank, holds the lion’s share in Morocco’s external debt with 93.1 billion dirhams, […]
Japan will provide Benin with rolling stock worth $2.7 million to contribute to the fight against terrorism in the north of the West African country. The assistance was the subject of an agreement signed by Ichijo Motonbu, the interim Chargé d’Affaires at the Japanese embassy in Benin, and Romuald Wadagni, Benin’s Finance and Economy Minister […]
The European Bank for Reconstruction and Development (EBRD) announced Wednesday a €250 million funding for Morocco to help the country to rebuild its economy in the regions of the Atlas Mountains that were hit by the recent earthquake. The Bank says the financial assistance is an initial response package spanning over three years (2023-2025). The […]
The African Development Bank (AfDB) is supporting Morocco’s efforts to enhance inclusive access to healthcare, improve employability of vulnerable people through training, and provide urgent assistance to the families affected by Al Haouz earthquake. In this connection, three financing agreements worth €270 million were signed Tuesday in Rabat by the Bank and the North African […]
Kenyan and Nigerian currencies have both hit all-time lows in the past few days, worsening the economic situation in the two heavily indebted African countries plagued by high inflation and ongoing dollar shortages. Kenyan currency hit all-time low of 150 shillings to the US dollar on Monday (23 October), while the Nigerian naira has faced […]
Morocco plans to increase spending on social protection to 5 billion dollars annually, covering mandatory health insurance, direct cash handouts to needy social categories, and housing acquisition aid, head of the government Aziz Akhannouch said. Speaking to members of Parliament, Akhannouch said the measures are in implementation of the King’s directives to move towards a […]