First Independent Mena Newspaper
Saudi Arabia will give Tunisia $500 million as a soft loan and a grant to help improve its public finances with the national budget suffering a $2-billion deficit, the Saudi state-run news Agency SPA reports. Tunisia is facing an acute economic crisis compounded by the pandemic coupled with a tense domestic political crisis. The North […]
Benin has secured an 80 million euros loan facility from the African Development Bank (AfDB) to improve and expand Cotonou harbor, one of the main maritime access points for landlocked countries in West Africa. The loan is split into two: €55 million from the African Development Bank and €25 million from Africa Growing Together Fund, […]
The International Monetary Fund (IMF) Managing Director Kristalina Georgieva hailed Wednesday the progress made in restoring debt sustainability globally including Chad, at a meeting of the G20 Finance Ministers and Central Bank Governors in India, “Zawya reports”. The central African country in November 2022 reached an agreement with its creditors, notably Swiss commodities trader Glencore, […]
The International Monetary Fund’s executive board has rubber-stamped a $271 million Extended Credit Facility meant to address the country’s protracted balance of payments needs, rebuild external buffers and support the government’s reform agenda. The Washington-based financial bilateral lender will disburse $62.6 million immediately. The loan is Burundi’s first Upper Credit Tranche-quality arrangement with the IMF […]
The European Union Investment Bank, EIB, has provided Tunisia with 40 million euros to finance the construction of 80 modern primary schools and provision of transportation for the future facilities, “Webdo Tunis” reports. Samir Saïed, Tunisia’s Minister of Economy and Planning and EIB’s Vice President Ricardo Mourinho Felix penned the agreement for the financing. The […]
The Moroccan government has released its macroeconomic forecasts for 2024, expecting a growth rate of 3.7% while revising downwards its 2023 growth forecast to 3.4% instead of 4%, due partly to drought and inflation. In a presentation at the Moroccan parliament, minister in charge of the budget Fouzi Lekjaa said the forecast will be taken […]
Senegal and Germany signed Thursday two financial agreements for the production of vaccine in the West African country, Senegalese state-run news agency APS reports. The agreements namely financial cooperation agreement and a financial aid contract, were signed by Oulimata Sarr, Senegal’s Minister of Economy, Planning and Cooperation and Karl von Klitzing, Director Senegal Office of […]
FIFA said it would pay Casablanca’s rivals Wydad and Raja $1.43 million as part of its Clubs Benefits Program, consisting in sharing the financial returns of the Qatar World Cup. The two Moroccan teams are part of 440 clubs from 51 member associations that will benefit from the Program, known by its acronym CBP, by […]
The African Development Bank, AfDB, rubber-stamped Tuesday a €400 million partial credit guarantee for Côte d’Ivoire, to support the mobilization on international financial markets for strategic environmental, social and governance (ESG) projects. “The partial credit guarantee will enable Côte d’Ivoire to raise long-term financing from commercial banks, in line with its ESG Framework. Côte d’Ivoire […]
Chariot, a London-listed, Africa-focused energy company, announced on Tuesday it has raised $15 million (£11.7 million) for its onshore drilling operation in Morocco. The company said the funds were raised through the placement and subscription of 89.6 million shares at an issue price of 14 pence per share, according to a statement from Chariot posted […]