First Independent Mena Newspaper
Algeria Sunday pledged to inject $150 million into the Tunisian Central Bank, BCT, in support to its neighbor, which has been struggling financially and economically since the 2011 revolution. President Abdelmadjid Tebboune made pledge during a meeting with Tunisian leader Kais Saied who was on his maiden international visit to Algeria. “Algeria is poised to […]
The African Development Bank (AfDB) expects Morocco’s economic growth to reach 3.7 pc in 2020 and 3.9 pc in 2021 from a 2.9 pc growth posted last year. In its African Economic Outlook 2020 report, the African bank says the projected GDP in Morocco is supported by the sustained efforts made to improve macroeconomic conditions […]
Hassan II Fund for Economic and Social Development has offered $210 million (2 billion Dirhams) as a contribution to the integrated program to support funding of enterprises. A ceremony was chaired in this regards by King Mohammed VI in a series of measures taken recently to promote the creation of small and medium sized enterprises […]
Morocco and France said they are ready to expand their cooperation to new fields such as new technologies and renewable energies building on solid ties and fruitful partnership in industry and services. The remarks were made in a joint statement following talks between visiting French Finance Minister Bruno le Maire and his Moroccan peer Mohamed […]
Three dams with a total capacity of 367 million cubic meters will be built in Marrakesh region (central Morocco) within the frame of the National Drinking Water Supply and Irrigation Program worth €10.8 billion. According to local officials, the three new dams will enhance drinking water supply in the region and help cope with the […]
La Poste Maroc, Morocco’s largest mail and parcels company, has partnered with “Geopost”, a subsidiary of French group La Poste, to set up a joint venture specializing in e-commerce parcels delivery throughout the Kingdom. The creation of the new operator “Chrono Diali” has received approval of the Moroccan authorities. La Poste Maroc holds 51 pc […]
In implementation of King Mohammed VI’s instructions to make the banking system conducive to development and to lower the rate of interest on loans within the framework of the integrated program of support and financing of SMEs, it has been decided that the interest rate will not exceed 2%. In response to the wishes of […]
British mining company Emmerson Plc has started its Environmental and Social Impact Assessment (ESIA) study for its Khemisset potash project in Northern Morocco. Khemisset is a potentially world class potash development, with industry leading, low, capital cost to production and, as a result of its location, among the highest margins in the potash industry. Potash […]
IFC, a member of the World Bank Group, is providing $24 million in financing, including a $12 million C loan for IFC’s own account and a mobilization of a $12 million B loan through IFC’s syndication program to Zalar Agri, one of Morocco’s leading fruit producers, as part of an effort to create jobs and […]
The European Commission (EU) signed four guarantee agreements worth €216 million that will help unlock €2 billion to be invested in renewables, urban infrastructure and start-ups in Africa and the EU Neighborhood. The guarantees were signed with the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the German KfW Group and […]