First Independent Mena Newspaper
Morocco’s transition to low-carbon economy requires an annual investment of $2.6 billion through 2030, rising to $17.4 billion annually by 2050, according to a report released by the World Bank The money will be spent on new clean energy solutions and technologies, explained the report titled: Scaling up to phase down: Financing Energy Transitions in […]
The World Bank has granted Morocco an additional funding of $250 million to finance the Support to Education Sector Program. This additional funding will bring the total funding of the program to $750 million. The related loan agreement was signed, Wednesday in Rabat, by the Minister in charge of the Budget, Fouzi Lekjaa, and the […]
The World Bank has approved a third Development Policy Financing (DPF) of $450 million for Morocco to enable the country advance financial and digital inclusion, key enablers in reducing poverty and boosting shared prosperity This third financing was announced end of March. It is “in line with the recommendations of the New Development Model (NDM), […]
The World Bank has granted an additional €94.7 Mln loan to the Casablanca Municipal Support Program, destined to increase the investment capacity of the commune, to strengthen the resilience of the city of Casablanca to the effects of climate change, and to improve access to basic services for citizens. The additional financing will allow to […]
The World Bank expects Morocco’s economic growth to increase to 3.5 percent in 2023 and 3.7 percent the following year as the country’s agriculture sector recovers gradually from last year’s drought. The spending of the North African Govt. is expected to partially offset weakness in private consumption stemming from high inflation, underlined the WB in […]
The World Bank team in charge of the supervision mission of the Blue Economy Program, conducted jointly with the Moroccan Ministry of Economy and Finance October 17 to 26, congratulated various partners and the program management unit (PMU) for all the work accomplished. “At the end of the supervision mission, the World Bank team congratulated […]
Morocco and the World Bank signed on Monday in Rabat a €236.7 million loan agreement for the funding of the North-East Economic Development Project destined to improve transport connectivity and rev up the private sector growth in the North-Eastern region of the Kingdom. The agreement was inked by Economy & Finance minister Nadia Fettah Alaoui […]
The World Bank has warned against the macroeconomic impact of droughts and water scarcity in Morocco wherein economic growth is expected to slow down in 2022 to 1.3 pc from 7.9 pc posted last year. While low rainfall shocks have historically been a driver of macroeconomic volatility in Morocco, droughts tended to be followed by […]
Morocco has hosted within four weeks three key events to leverage resources and spur joint action in favor of Africa’s financial resilience in the face of overlapping crises. Last month, Morocco hosted a meeting of African Union finance ministers to discuss common challenges and how to maintain steady funding for the continental organization. The same […]
The World Bank approved Friday a $250 million loan to Morocco for the economic development of its North-Eastern region. The funding will help improve transport connectivity and enable private sector growth in the North-East region, notably around the development of the Nador West Med (NWM) maritime complex. Morocco is implementing a major infrastructure investment plan […]