First Independent Mena Newspaper
Africa needs to accelerate the financing for energy access in the continent with clear targets and steps for ensuring the achievement of universal energy access by 2030 — this appeal was made during a recent presidential roundtable on the side-lines of the 36th Ordinary Session of the Assembly of the African Union (AU). The event […]
The partnership set between the World Bank and Morocco is constantly evolving and gaining momentum thanks to constant dialogue, better coordination and shared socio-economic development vision. WB Managing Director of Operations, Axel van Trotsenburg, who is currently visiting the country, said the Bank will continue to support the efforts made by the North African country […]
African leaders will hold a summit on Saturday and Sunday at the headquarters of the African Union (AU) in Addis Ababa with the aim of accelerating the implementation of the continental free trade area (AfCFTA). The summit, the 36th of the organization, will bring together 35 Presidents and 4 Prime Ministers. The officials will ponder […]
Morocco’s economic growth is expected to grow 3.1% in 2023 thanks to a rebound of the primary sector, says the World Bank’s in its latest report “Responding to Supply Shocks”. After a strong post-COVID-19 rebound last year, Morocco’s economy came under mounting pressure from overlapping supply shocks: a severe drought and a surge in commodity […]
The World Bank has agreed to grant Tunisia a $120 million loan earmarked to facilitate access to funding by Small and Medium Enterprises (SMEs). The announcement was made by WB vice-president for MENA region, Farid Belhaj. The credit will be dished out to financial institutions by the Ministry of Finance and then to SMEs qualified […]
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 […]