First Independent Mena Newspaper
Dolidol, a Moroccan manufacturer and distributor of bedding products, has secured a €20 million financial support of the International Finance Corporation and Proparco to enhance its production and sales in Nigeria. The financing package includes a loan of €13.5 million from IFC and €6.5 million provided by Proparco, the French Development Institution. The financing will […]
Saudi Arabia is willing to provide Tunisia a financial facility to support the 2022 state budget but provided that the North African country meets the demands of the International Monetary Fund (IMF) for a restructuring plan, Business News reports. Malek Zahi, Tunisian Minister of Social Affairs, who was in the Gulf country last week for […]
Algeria’s military regime has hit a new low in its response to a World Bank report warning of worsening poverty and bleak economic prospects in the country. In a 60-page report, the World Bank pointed to a series of dysfunctions in the oil and gas reliant Algerian economy which augur ill for the country’s economic […]
The Moroccan financial sector continues to show resilience against the negative impacts generated by the Covid-19 pandemic, said the “Coordination & Systemic Risk Monitoring Committee” following its meeting held Tuesday in Rabat at the headquarters of Bank Al-Maghrib. After the three-year review of the 2019-2021 period, the Committee examined and approved the new financial stability […]
Tunisia has adopted the 2022 budget short of around $2.8 billion amid economic hardship that has hit the country also gripped by an unprecedented political crisis, triggered since July 25 after President Kais Saied has seized all major powers. The Tunisian government, Webdo Tunis reports, will present this Tuesday the draft of the financial act […]
The Egyptian General Petroleum Corporation (EGPC) has signed an agreement with the Italian giant energy group Eni for oil exploration and exploitation in the Gulf of Suez and Nile Delta regions worth $1 billion, Arab Finance reports, citing a statement by the Ministry of Petroleum and Mineral Resources. The deal signed by Minister of Petroleum […]
The official celebrations of Morocco’s National Day at the World Expo 2020 Dubai were launched Sunday morning in the presence of a high-level Moroccan delegation led by Aziz Akhannouch, Head of Government. Located in the heart of the Opportunity District, near the United Arab Emirates’ pavilion and not far from Al Wasl Plaza, central monument […]
Morocco’s acquisition of two combat-proven unmanned aerial systems, the Turkish Bayraktar TB2 drones and Israeli Harop loitering munitions, gives the North African Kingdom a decisive edge in any future conflict, says U.S. magazine Forbes. The new press report is expected to exacerbate further the Algerian military junta’s concerns to see their neighbor enhancing its military […]
The European Bank for Reconstruction and Development (EBRD), supported by the Green Climate Fund (GCF) and the European Union, provides €25 million to Banque Marocaine pour le Commerce et l’Industrie (BMCI) to support Morocco’s green transition. The financing, of which a total of €23.75 million will be provided by the EBRD and €1.25 million by […]
The Head of Government, Aziz Akhannouch, welcomed, Thursday in Rabat, the substantial progress made in the deployment of various projects under the cooperation program “Compact II”, concluded between Morocco and the United States, represented by the Millennium Challenge Corporation (MMC). Chairing the work of the 12th session of the Strategic Orientation Council (COS) of the […]