First Independent Mena Newspaper
King Mohammed VI ordered the allocation of 10 billion dirhams ($1 billion) to mitigate the impact of drought on farmers, the Royal Palace said. Morocco has registered a rainfall deficit of 64% jeopardizing this year’s harvest and putting farmers in a difficult financial position. Hassan II fund for economic and social development will contribute by […]
Morocco looks forward to developing its shellfish farming sector with the help of Japan, a global leader in this industry which plays a key role in this Asian country’s economy and food security. Japanese experts visited lately the site of the project Tiguert-Imiouadar, near the city of Agadir, to share their know-how with Moroccan fishermen […]
The World Bank Tuesday announced the intent to provide $400 million to Tunisia in view of backing social reforms. Ferid Belhaj, World Bank Vice President for Middle East and North Africa, made the announcement to Tunisian Prime Minister Najla Bouden during a visit. The World Bank official also indicated that the US-based institution will help […]
The European Investment Bank and the European Union support Morocco’s rural schooling program with € 125.8 million funding to serve for the building of 150 community schools. The EIB has agreed to provide Morocco a € 102.5 million loan for this project, while the EU pledged to inject € 23.3 million under the Neighborhood Investment […]
The Moroccan Federation of Pharmaceuticals Industry and Innovation (FMIIP) has partnered with the International Finance Corporation to enhance the sector’s efficiency and mitigate climate change by reducing water and energy waste. Under an agreement sealed Tuesday, IFC pledged to help FMIIP members in reducing their carbon and water footprints and improving efficiencies in their production […]
Israel has agreed to sell Morocco the Barak MX air and missile defense system in a deal worth more than $500 million, Israeli media reported. The deal was approved by Israel Aerospace Industries (IAI) after Morocco and Israel sealed a defense cooperation pact last November. The Israeli air defense system protects against a range of […]
The Polish LUG group, one of the leading European manufacturers of professional lighting solutions, inaugurated this Monday in Laayoune, its Moroccan branch dubbed “LUG Maroc”. “The opening of this branch in Laayoune reflects our firm belief that Morocco is among the strategic priorities of our group,” said the president of the Polish lighting giant, Ryszard […]
Morocco’s economic activity has recovered most of the ground lost during the severe global recession of 2020 with a growth rate of 6.3% last year and medium-term growth prospects of 3.5%, as the country continues its fiscal and monetary stimulus, the IMF said. Morocco has posted the highest growth rate in the MENA region in […]
As many Western societies are going paperless and cashless, several central banks across the world started testing digital money to assess the risks and benefits of cryptocurrency, a global market spurred by Covid-19 restrictions in emerging economies particularly in Africa and Asia. Sensing the growing importance of decentralized digital currency with the evolution of Information […]
The European Union will invest €1.6 billion in Morocco to promote the green and digital transition. This investment is part of the new European strategy, called Global Gateway, launched last December. The European Union will invest €1.6 billion (more than 17 billion dirhams) in Morocco. The announcement was made this Wednesday, February 9, 2022, by […]