First Independent Mena Newspaper
In Mauritania, Proparco, a Development Financial Institution partly owned by the French Development Agency, has signed an agreement with Attijari Bank Mauritania, the local subsidiary of the Moroccan financial group Attijariwafa Bank, to guarantee up to €5.5 million ($6.1 million) loans to approximately 140 Mauritanian small and medium-sized enterprises (SMEs). According to the MoU signed […]
Spanish airline Iberia will launch an air link between Madrid and Fez next summer starting July 28. The company said it will operate four flights weekly between the two cities on Tuesdays, Wednesdays, Thursdays and Saturdays. The air route is part of Iberia’s expansion plan in Morocco where it already connects Marrakech, Casablanca and Tangier […]
King Mohammed VI has appointed Thursday the members of the new ad-hoc committee for the development model set up recently. The committee, chaired by Morocco’s ambassador to France Chakib Benmoussa, who was named to the position last Nov.19, is composed of 35 members with diverse academic and professional backgrounds. The members have in-depth knowledge of […]
The World Bank approved a $275 million Disaster Risk Management Development Policy Loan for Morocco designed to both help the country strengthen its capacity to manage the financial impact of natural disasters and climate-related shocks, and to upgrade its institutional framework for disaster risk management. Morocco has been hit in recent years by the impact […]
The European Union announced on Wednesday a €101.7 million financial assistance to support Morocco’s efforts to combat human smuggling and manage irregular migration. The EU funding will also serve to raise awareness among young people and their families about the risks involved in attempting to cross the Mediterranean Sea. “With this new financial assistance, we […]
The African Development Bank (AfDB) approved on Wednesday a €245 million loan to the National Office of Electricity and Drinking Water (ONEE) to enable the Moroccan utility company expand its rural electrification projects. “Developing a reliable electricity network will enable the Kingdom to meet an energy demand recording a 5 pc annual growth” said Mohamed […]
Donors of the African Development Fund (ADF)over the weekend agreed to commit $7.6 billion to speed up growth in Africa’s poorest nations and help lift millions out of poverty. According to the African Development Bank Group, the Fund comprises 32 contributing states and benefits 37 countries. The fund, administered by the African Development Bank, supports […]
Morocco, in partnership with the international Fund for Agricultural Development(IFAD),agreed to launch a €82.6 million project to help vulnerable households face climate change. IFAD is an international financial institution and a United Nations specialized agency based in Rome – the United Nations’ food and agriculture hub. The project will benefit 11,200 vulnerable households in rural […]
The German reconstruction bank, Kreditanstalt für Wiederaufbau (KfW), is supporting the drinking water Supply and Sanitation sector in Morocco with €55.5 million. Under a financing agreement signed Thursday in Rabat between KfW and Morocco’s National Office for Electricity and Drinking Water (ONEE), €28.5 million will finance drinking water supply to small and medium-sized centers. This […]
Spanish financial group Bankia has opened lately an office in Morocco’s economic capital, Casablanca, to support the expansion of Spanish companies in the North African Kingdom, one of Spain’s major trade partners. Bankia managing director Jesús Miramón said Morocco is a key market for Spanish businesses which are looking for growth opportunities beyond their national […]