First Independent Mena Newspaper
The Executive Board of the International Monetary Fund (IMF) has completed its 3rd and last review of Morocco’s economic performance under a program supported by a two-year Precautionary and Liquidity Line (PLL) arrangement, and reaffirmed Morocco’s continued qualification to access PLL resources. The current two-year PLL arrangement in an amount equivalent to SDR 3.2351 billion […]
The Egyptian government has obtained a German financial support for three power projects to be carried out under the supervision of German group Siemens, through their local partners Orascom Construction and El-Sewedy Electric. The three projects will cost $ 6.3 billion lent by Deutsche Bank, HSBC Germany and German Bank of Reconstruction (KfW). The loan […]
The European Bank for Reconstruction and Development (EBRD) has approved a US$ 200 million loan for the construction of a new 1.8 GW combined cycle gas-fired power plant in Damanhour, north west of Cairo. This loan will contribute to funding the US$ 1.3 billion total project cost, which is also being supported by the European […]
Algerian Minister of Territorial Development, Tourism and Handicrafts announced Monday in Algiers the launch of 2,500 tourism projects in 2016 in a bid to strike balance between offer and demand in the tourism industry. Speaking at a national seminar on tourism agencies’ activities, Amar Ghoul indicated that the 2016 plan is meant to promote tourism […]
Morocco will have its first Islamic bank next year, according to a statement made lately in Kuwait by governor by the central bank of the North African country Abdellatif Jouahri. Morocco will become thus the latest Muslim-majority country to develop a regulatory framework specific to Islamic finance after the parliament approved last year a bill […]
The European Bank for Reconstruction & Development has stepped up its financial support to Morocco’s public and private institutions in a bid to boost the North African country’s economic growth. The European Bank has increased its support to Morocco’s renewable energy sector with a loan of up to € 35 million to the Office National […]
Mauritanian Minister of economy and development Tuesday hailed the progress made by the country on the 2015 Doing Business Group report which places Mauritania at the 168th spot out of 189 countries. 2015 Doing Business Group’s report published last week ranks Mauritania 168th, revealing a jump of 8 spots in two years after the country […]
The European Bank for Reconstruction and Development (EBRD) has announced a €200 million loan to state-owned “Société Nador West MED” to enable it finance the basic infrastructure for a new port on the Mediterranean coast of Morocco in the city of Nador. The development of the port is a major boost for eastern Morocco and […]
The World Bank Doing Business 2016 report categorizes Algeria among countries “hostile’’ to investment, placing the country at the 163rd rank out of 189 countries, with Singapore topping the rankings. Despite a myriad of efforts to stimulate economic revival following a plunge of the country’s economy due to the collapse of oil prices, Algeria is […]
Algeria trade deficit widened to $10.33 billion during the first nine months of 2015, against a $4.09 billion surplus a year earlier, after a sharp fall in energy earnings caused by global drop in crude oil prices. The new figures confirm the deteriorating economic situation in the North African country, member of the OPEC cartel. […]