First Independent Mena Newspaper
The International Finance Corporation (IFC) will assist the Moroccan Ministry of Energy Transition & Sustainable Development accelerate Morocco’s energy transition plan through updating the national natural gas roadmap and structure a landmark public-private partnership (PPP). The two sides signed an agreement on this cooperation Monday in Rabat. The agreement focuses on developing sustainable gas infrastructure, […]
The International Finance Corporation (IFC), an offshoot of the World Bank, agreed to lend Morocco’s phosphates and fertilizers giant OCP 100 million euros to fund the building of four solar plants, the two parties said. The agreement was announced during the International Monetary Fund-World Bank Group Spring Meetings in Washington DC. The green loan will […]
International Finance Corporation (IFC) will invest 12.18 billion shillings ($100 million) in Nairobi-listed Diamond Trust Bank (DTB) to support small and medium enterprises (SMEs) impacted by Covid-19, Zawya reports, citing Kenyan Wall Street newspaper. The investment will be in senior debt under its Covid-19 emergency response working capital solutions scheme (WCS FIGE). IFC initiated the […]
The Moroccan Federation of Pharmaceuticals Industry and Innovation (FMIIP) has partnered with the International Finance Corporation to enhance the sector’s efficiency and mitigate climate change by reducing water and energy waste. Under an agreement sealed Tuesday, IFC pledged to help FMIIP members in reducing their carbon and water footprints and improving efficiencies in their production […]
Dolidol, a Moroccan manufacturer and distributor of bedding products, has secured a €20 million financial support of the International Finance Corporation and Proparco to enhance its production and sales in Nigeria. The financing package includes a loan of €13.5 million from IFC and €6.5 million provided by Proparco, the French Development Institution. The financing will […]
Morocco’s BMCE Bank International Plc UK has sealed a $150 million partnership with the International Finance Corporation to bolster cross-border trade in Africa and prevent shortages of essential goods, including grains and building materials amid the Covid-19 crisis. Under the agreement announced Wednesday, IFC will enter into a risk-sharing facility with BMCE Bank International, a […]
The International Finance Corporation, IFC, a member of the World Bank, will invest $100 million in the first private sector green bond in Egypt, to help fund climate-smart projects, alleviate greenhouse gas emissions, and support Egypt’s shift to a greener economy, the institution said in a statement. The bond, the first by the private sector, […]
Morocco’s phosphates and fertilizers producer OCP obtained a loan of 100 million dollars from the International Financial Corporation (IFC) to develop its African value chain. The loan will help OCP Africa to expand its logistics networks and increase the availability of fertilizers, adapted to local soils and crops, in Côte d’Ivoire, Ethiopia, Ghana, Kenya, Nigeria, […]
Morocco’s central Bank has teamed up with the International Finance Corporation (IFC) to improve SMEs access to finance through the development of Supply Chain Finance (SCF), which enables both buyers and suppliers to optimize their working capital, improve cash flow, and receive early payment on invoices. An agreement has been sealed lately between Bank Al-Maghrib […]
The International Finance Corporation (IFC) intends to support the Moroccan government in its multiple reforms to ensure post-Covid economic recovery and plans to invest $300 million for fiscal year 2021. In this vein, the IFC and the Ministry of Economy and Finance signed Wednesday Wednesday a memorandum of understanding to strengthen their partnership and stimulate […]