First Independent Mena Newspaper
The Board of Directors of the African Development Bank (AfDB) Group has approved a €120 million financing to support Morocco’s Governance and Climate Change Resilience Support Program (GCRRP) – Phase 1. The main objective of this program is to implement reforms guaranteed to boost Moroccan economy and consolidate its resilience to exogenous factors including climate […]
The African Development Bank has agreed to provide Morocco four loans totaling over €600 million to enable the North African Kingdom build a 105-km long highway, enhance territorial competitiveness, modernize the university, and support sustainable forest development. The agreements were signed Wednesday in Rabat by Minister in charge of the budget Fouzi Lekjaa and the […]
Morocco’s economic growth is expected to reach 3.5 pc in 2024 and 3.8% in 2025, driven by higher investment, according to latest projections released by the African Development Bank. In its African Economic Outlook 2024 report, the Bank said inflation is projected to fall slightly to 4.1% in 2024 and 3.8% in 2025, as world […]
The Board of Directors of the African Development Bank (AfDB) has approved an €84 million funding for the sustainable development of forest areas in Morocco, meant to enhance climate resilience and promote local entrepreneurship. The project meant to support the inclusive and sustainable development of forest areas in Morocco aims to contribute to strengthening the […]
The Board of Directors of the African Development Bank (AfDB) Group has approved funding of €120 million under the Transformation Support Program for a Moroccan Digital, Entrepreneurial, and Inclusive University (UM 4.0). This program, which targets students, higher education teachers, entrepreneurs and young graduates, aims to contribute to the development of human capital and the […]
The World Bank Group and the African Development Bank Group are partnering on an ambitious effort to provide at least 300 million people in Africa with electricity access by 2030. The World Bank Group will work to connect 250 million people to electricity through distributed renewable energy systems or the distribution grid while the African […]
The African Development Bank said it has allocated $4.5 million to back projects in 14 African municipalities. In a statement, the bank said that 500,000 dollars- as part of the same funding -will be earmarked to improving the quality of urban governance including through the launch of a capacity-building and consulting program to enhance municipal […]
The African Development Bank has lent €100 Million to Morocco’s Communal Equipment Fund to support sustainable infrastructure projects aimed at reducing territorial and social disparities in the North African Kingdom. The loan agreement was signed Friday in Rabat by the African Development Bank (AfDB) and le Fonds d’équipement communal (FEC). The money will serve to […]
Head of the African Development Bank called for an end to loans in exchange for oil or critical minerals, which helped countries like China control vast resources in the continent. In an interview with the Associated press, AFDB chief Akinwumi Adesina explained how such loans lead to undervaluing natural resources of African countries and further […]
Africa imports between 70 and 80% of its medicines, according to Akinwumi Adesina, the President of the African Development Bank (AfDB), who also warned that the continent suffers an annual loss of $2.6 trillion yearly due to lack of productivity caused by ill-health. Speaking at a recent ceremony in Lagos where he was honored with […]