Morocco
World Bank Approves $300 Million Loan to Modernize Morocco's Public Sector
The World Bank’s Board of Directors granted a new loan to Morocco on Tuesday, September 7, 2021. This financing will be used to develop the public sector.
Topic
Loan
Morocco
Morocco's Housing Loans Surge 6.7% as Real Estate Financing Trends Shift
Real estate loans experienced a 3.6% increase at the end of July, reaching a total outstanding amount of 288.27 billion dirhams. As for loans to real estate developers, they recorded a decline compared to the same period last year.
Morocco
World Bank Grants Morocco $100 Million to Boost Disaster Resilience
The World Bank is contributing to Morocco to help it better fight natural disasters. It has just validated an additional loan of $100 million to support the Kingdom in this direction.
Morocco
Survey: Nearly One-Third of Moroccans Take Second Loans to Repay Debt
In total, 31% of Moroccans resort to a second loan to repay the first. This is revealed by a survey conducted by the National Federation of Consumer Associations (FNAC).
Morocco
Morocco's Bank Lending Grows 3.3% in Q1 2021, Real Estate Loans Rise
Bank loans allocated stood at 948.42 billion dirhams in the first quarter of 2021, an increase of 29.94 billion dirhams compared to the same period in 2020, according to the latest statistics from Bank Al-Maghrib.
Morocco
Moroccan Officials Reject IMF's Economic Recovery Plan Amid Pandemic
The IMF’s recommendations for reviving growth in Morocco during this health crisis period are strongly criticized by several senior officials. Among these personalities are the High Commissioner for Planning, Ahmed Lahlimi and Abdellatif Jouahri, the governor of the Moroccan central bank.
Morocco
Morocco Extends Check Amnesty Program Amid Ongoing Health Emergency
Scheduled to end on March 31, the amnesty on bounced checks has been postponed. A decree voted on Thursday, March 25, 2021 in the Council of Government has just extended it until the end of the state of health emergency.
Morocco
EIB Invests €85 Million to Digitalize Morocco's Highway Network
The European Investment Bank (EIB) and the Société Nationale des Autoroutes du Maroc (ADM) are strengthening their partnership. In a press release, the two institutions have just announced the signing of a financing contract of 85 million euros (around 925 million dirhams), as part of the European Union’s External Lending Mandate (ELM) for the period 2021-2027.
Morocco
Morocco's Tourism Transport Sector Seeks Massive Loan Deferrals Amid Economic Strain
Currently, more than 57,000 applications for deferral of credit maturities have been filed by tourist carriers and short-term rental companies in Morocco. This number totals more than 5 billion dirhams (MMDH) in outstanding loans.
Morocco
Moroccan Restaurant Industry Calls for Government Aid Amid Ongoing Crisis
Through a letter addressed to several authorities, the Moroccan Confederation of Food Trades (CMMB) defends the interests of the restaurant sector, which has been severely affected by the health crisis. It wishes that this sector be taken into account in the national economic recovery plan.
Morocco
Morocco's Tax Amnesty Yields Over 500 Million Dirhams from Undeclared Assets
As part of the amnesty granted by the State in 2020, the undeclared liquid assets, normalized with the banks, will bring in more than 500 million DH to the Moroccan tax authorities. 60% of these revenues have already been paid in 2020 and the rest will be paid in 2021, according to an official source.
Morocco
European Investment Bank Grants €85 Million Loan to Morocco's National Highway Company
The Board of Directors of the Société Nationale des Autoroutes du Maroc (ADM) has approved the financing contract with the European Investment Bank (EIB). It is a loan of 85 million euros.