First Independent Mena Newspaper
The European Bank for Reconstruction & Development has approved a €9.7 Million loan to Fondation Albaraka, one of the largest microfinance institutions in Morocco for on-lending to local micro enterprises. Access to finance through banks remains extremely limited for micro, small and medium-sized enterprises (MSMEs) in Morocco. The EBRD funds will offer much-needed support for […]
The World Bank announced a $350 million program to support wide-ranging reforms of financial intermediation in Morocco, including new sources of financing for small and medium enterprises (SMEs). The loan also aims at improving the regulatory oversight of the banking sector and supporting the capital market development by broadening the range of instruments and strengthening […]
The European Parliament on Wednesday approved a plan to lend Tunisia €500 million on favorable terms to help it reduce its external debt and consolidate its democratic mechanisms. The plan was backed by 561 votes to 76, with 42 abstentions. Rapporteur of the debate Marielle De Sarnez (ALDE,FR) emphasized that it is “a loan which […]
Egypt will be receiving the remaining $1billion within two months from Turkey after satisfying the conditions attached to the $2billion loan agreement concluded last year to support its budget deficit. Turkey’s Eximbank will be handling the transactions. The money is needed by Egypt to suppress its problems as the government continues to run out of […]
If Egypt has declared that it’s no more interested in International Monetary Fund’s (IMF) loan, Tunisia on the other hand has not ruled out its emergency loan which is on standby. However, planned protests and strikes for the following weeks might jeopardize the Tunisian government’s ability to overcome its shaky finance and at worst, its […]
The World Bank has extended Morocco a $160 million loan designed to support reforms in Morocco’s business environment to spur competitiveness and boost growth and job creation in an increasingly competitive global economy. The First Economic Competitiveness Development Policy Loan approved this week by the World Bank will improve transparency and accountability in investment procedures […]
According to the analyses of the president of Canada’s International Development Research Centre (IDRC), David Malone, the 4.8 billion International Monetary Fund (IMF) loan is insufficient to end to end Egypt’s economic woes. President Malone is in Cairo when he said that what Egypt needed is not a “western tailored” development model. Malone, a renowned […]
Negotiations are going on between Tunisia and the International Monetary Fund for a loan programme. The IMF director for the Middle East and North Africa, Masood Ahmed, said he is looking forward for their talks to progress by early February. Negotiations have been going on prosperously between the two parties and Tunisia is hoping to […]