First Independent Mena Newspaper
The European Bank for Reconstruction and Development injected 38.4 million euros-via a green bond issuance- in Moroccan rail operator ONCF, as the latter expands its network. “Issuing the bond will partially refinance the debt from ONCF’s latest development round designed to modernize and electrify the network; acquire and upgrade electric rolling stock; address safety units […]
The European Bank for Reconstruction and Development (EBRD) will contribute €65 million to fund projects aimed at expanding the capacity and optimizing the operations of the multipurpose terminals of the ports of Casablanca and Jorf Lasfar. The financing agreement was signed by EBRD President Odile Renaud-Basso and Managing director of Morocco’s port management company, Marsa […]
Cooperation prospects between Morocco and the European Bank for Reconstruction and Development (EBRD) were discussed at a meeting in Rabat Thursday that gathered Head of Government Aziz Akhannouch and EBRD President Odile Renaud-Basso. The meeting, attended by Minister of Economy and Finance Nadia Fettah, also discussed the major development projects initiated by Morocco. The EBRD […]
The European Bank for Reconstruction and Development has approved a financing of 200 million euros to support the desalination program of Morocco’s phosphates group, OCP. The loan will finance the construction of two OCP seawater desalination facilities, at its key industrial complexes in El Jadida (Jorf Lasfar) and Safi, the bank said in a statement. […]
The European Bank for Reconstruction and Development (EBRD) has adjusted Egypt’s economic growth projection upward, anticipating a 4% increase in FY2024/2025, indicating a positive recovery trajectory. Growth for FY2023/2024 was revised to 2.7%, with GDP expansion expected to reach 3.2% in 2024 and 4.5% in 2025. Inflationary pressures have moderated, with inflation declining to 25.7% […]
Morocco’s economy is expected to grow by 2.9% in 2024, driven by a resurgence in manufacturing and tourism, according to the European Bank for Reconstruction and Development (EBRD). The EBRD’s latest regional economic outlook, released on Thursday, highlights the resilience of Morocco’s economy despite adverse weather conditions. “The recovery in manufacturing and tourism, bolstered by […]
The European Bank for Reconstruction and Development (EBRD) has approved a €15 million loan to Moroccan car equipment supplier, Tuyauto, which produces stamped metal components, exhaust systems, and heat shields. The loan is guaranteed by the EU through the European Fund for Sustainable Development Municipal Infrastructure and Industrial Resilience program to support the company’s environmental […]
The European Bank for Reconstruction and Development (EBRD) on Tuesday reaffirmed its support for Morocco’s energy transition by providing a €13.6 million loan to PROCANEQ, a company set up in Morocco in 2016 to provide mining subcontracting services to OCP Group. The EBRD financing, meant to step up the sector’s green transition, will be used […]
The European Bank for Reconstruction and Development (EBRD) announced on Wednesday a €45.5 million loan to Eczacıbaşı Consumer Products Maroc (ECP Maroc) to enable the Moroccan subsidiary of Turkish group Eczacıbaşı Consumer Products (ECP) to acquire Jeesr, a leading manufacturer of tissue paper products in Morocco. This is the Bank’s first cross-border acquisition financing package […]
The European Bank for Reconstruction and Development (EBRD) expects Morocco’s economic growth to reach 3 per cent in 2024, before rising to 3.6 per cent in 2025, supported by a recovery in external demand and government investment. Following a slowdown in 2022, the country GDP growth picked up to 3.2 % in 2023, driven by […]