First Independent Mena Newspaper
The World Bank announced that it has allocated additional financing of $200 million to the Education Support Program in Morocco, bringing the total project value to $700 million. In a recent document, the World Bank spoke of additional financing aimed at restructuring the results of the main indicators, in addition to extending the program from […]
The World Bank has granted Egypt a new development financing of $500 million to support the “Takaful and Karama” program according to the Arab country’s Minister of International Cooperation Rania Al-Mashat. Takaful and Karama program supports the most vulnerable classes against the implications of the global economic crises and external shocks. The financing will support […]
Morocco and Switzerland have signed an agreement on environment protection on the sidelines of the COP-27 climate summit currently held in Sharm El Sheikh, Egypt. The agreement was inked Monday by Swiss President Ignazio Cassis and Moroccan minister of energy transition and sustainable development Leila Benali. Under this agreement, Switzerland pledges to reduce its CO2 […]
Investing in climate action now will reap important benefits for Morocco, creating new jobs, revitalizing rural areas and positioning the kingdom as a green industrial hub while helping to reach its broader development goals, according to a new World Bank report released Thursday. The Morocco Country Climate and Development Report (CCDR), the first in a […]
The International Monetary Fund, IMF, announced November 1 the re-election of Egypt’s ex-Minister of Investment, Mahmoud Mohieldine, as executive director and member of the board. Mohieldin represents a group of Arab states, namely Egypt, the UAE, Bahrain, Kuwait, Oman, Qatar, Jordan, Iraq, Lebanon, and Yemen, along with the Maldives. Following his re-election Mohieldin stressed that […]
Axel Van Trotsenburg, World Bank Managing Director of Operations Wednesday called on Tunisia to carry out crucial fiscal reforms which he claimed will put the North African country on development trajectory. “These reforms are equally important for the population,” Trotsenburg said in a tweet following a meeting with Tunisia’s Ministers of Planning and Finance. The […]
The economies of the Middle East and North Africa (MENA) region are expected to grow by 5.5% this year —the fastest rate since 2016—followed by a slowing of growth to 3.5% in 2023, the World Bank says. Yet this growth is uneven across the region, as countries, still struggling to overcome the lasting effects of […]
Ghana is a classic case of emerging economies in Africa and other parts of the world who have been caught in a perfect storm and are struggling to service their foreign currency denominated loans owing to a strengthening US dollar, rising global interest rates and that is made worse by their excessive borrowing. Ghana is […]
The African Union (AU) reiterated its push for the United States, European Union, and United Kingdom to lift all sanctions against Zimbabwe at the United Nations General Assembly in New York. AU chairman — Senegal’s president Macky Sall — said the “harsh measures continue to fuel a sense of injustice against an entire people, and […]
The trade deficit in Tunisia widened by record 56% in the first semester of 2022, reaching 8.1% of GDP, while the budget deficit, exacerbated by mounting energy and food subsidies, is expected to reach 9.1% in 2022, compared to 7.4% in 2021, according to the World Bank’s latest report. Inflation in this country rose from […]