First Independent Mena Newspaper
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 […]
The European Bank for Reconstruction and Development (EBRD) has approved a new strategy for Morocco for the 2024-2029 period after consultation with Moroccan authorities, the private sector, civil society, and shareholders. The Bank’s country strategy supports private-sector-led economy by enhancing competitiveness and promoting Morocco’s reform agenda. It also aims to strengthen social cohesion, reduce regional […]
EBRD’s Head for Morocco Antoine Sallé de Chou announced on Thursday at the Mohammed VI Polytechnic University (UM6P) in Salé that the European Bank for Reconstruction and Development (EBRD) has facilitated investments exceeding €400 million in Morocco’s water sector. These investments primarily address issues pertaining to water supply and demand management, Sallé de Chou told […]
The European Bank for Reconstruction and Development, EBRD, has committed to a provisional equity investment of up to $75 million in HAU Energy BV, a funding vehicle established by Hassan Allam Utilities that operates in Egypt and is running a project known as 1.1 GW Gulf of Suez wind farm. The investment is set to […]
The European Bank for Reconstruction and Development (EBRD) has approved a €12 million loan for Guelmim-Oued Noun Saharan region to enable it improve drinking water supply for households in rural areas. The funding will also help the Guelmim province upgrade four existing Waste Water Treatment Plants (WWTPs). the recycling water is used in community gardening, […]