First Independent Mena Newspaper
Mauritania and France, on Tuesday, November 25, have formalized a preferential loan agreement worth €39.2 million to construct ten solar power plants equipped with storage systems, marking a strategic boost to the country’s clean energy ambitions. Signed in Nouakchott by Mauritanian Economy Minister Abdallahi Souleymane Cheikh Sidiya and France’s Minister Delegate for Foreign Trade Nicolas […]
Africa’s mounting debt burden — now standing at 64.3% of the continent’s GDP — is choking vital investments in health, education, and infrastructure, warns the United Nations Economic Commission for Africa (UNECA). Speaking at a recent Africa Regional Forum on Sustainable Development, UNECA executive secretary Claver Gatete painted a sobering picture: out of 144 Sustainable […]
The World Bank has approved $70 million loan for Morocco to enable country continue implementing ambitious social protection reforms seeking to facilitate access to social services in particular for vulnerable households. Building on the achievements of the first project, which saw a successful design and implementation of the National Population Registry, Unified Social Registry, and […]
The Nigerian Government has secured a $134 million loan from the African Development Bank (AfDB) to strengthen its agricultural sector amid growing food insecurity concerns. This funding aims to increase seed and grain production and improve food security, according to a statement of the Agriculture ministry on November 14. A recent “Harmonized Framework” report, prepared […]
The Financial Regulatory Authority (FRA) reported a notable increase in non-banking financing across various sectors in July 2024. According to the latest figures, the number of consumers benefiting from consumer finance rose to 2.127 million in July 2024, up from 1.986 million in July 2023. The total volume of outstanding loans for micro, small, and […]
Japan has granted Morocco a $180 million loan to support the kingdom’s development policy program aimed at achieving universal health coverage. The loan is destined to accelerate progress toward universal health access, with focus on improving maternal and child healthcare services in rural areas. It also marks a significant boost to Morocco’s efforts to strengthen […]
The International Monetary Fund gave the greenlight for the disbursement of 360 million dollars to Ghana, after the latter reached an agreement with its creditors to restructure its debt. “The authorities’ strategy aimed at restoring macroeconomic stability and reducing debt vulnerabilities is paying off, with clear signs of stabilization emerging,” IMF Deputy Managing Director Kenji […]
Cash-strapped Tunisia will get 450 million euros from the European Investment Bank to fund small and medium-sized enterprises and infrastructure projects, the bank said. The financing deal will be signed on Thursday at the Tunisia Investment, the bank said in a statement, adding that the loan will benefit “high-impact projects for the population and the […]
As Kenya is moving closer to sealing an Economic Partnership Agreement (EPA) with the European Union, the East African economic powerhouse has also announced the possibility of a $1bn loan from China that could be used to help pay off a $2bn Eurobond repayment that is due in June next year. Kenya’s economic partnership deal […]
The Board of Directors of the African Development Fund, the African Development Bank Group’s concessional window, approved a €38.84 million loan to Benin to help implement the initial phase of the Economic Governance and Private Sector Development Support Program, Abidjan-based lender said in a statement. The program designed to assist the Beninese government in its […]