African Development Bank (AFDB), an multinational development financial institution headquartered in Abidjan, Ivory Cost, granted Morocco a USD200 million loan on Friday to reinforce the country's industrialization plan, states the Chinese news agency Xinhua quoting local Moroccan media. The loan is destined to provide for the first stage of an industrial acceleration plan set to create «by 2020 to create 500,000 new sustainable jobs and significantly increase the share of industry in
«There will be no reception centers in Morocco for migrants,» the Foreign Minister said in an interview with Russia Today. «These kinds of centers undermine human dignity. Morocco rejects that. The kingdom has always opposed these proposals,»he said. For the record, former Foreign Minister Taieb Fassi-Fihri had declined a similar offer once again suggested by Germany, arguing that Rabat receives only its expelled citizens from Europe. The Minister has spoken out about
The Minister of Foreign Affairs and International Cooperation visited Moscow yesterday in an attemt to revive Moroccan-Russian strategic relations. In addition to the economic benefits of the royal visit in March 2016, welcomed by Nasser Bourita, Morocco and Russia adopt almost the same opinions regarding a number of international issues.
The Minurso (United Nations Mission for the Organization of a Referendum in Western Sahara) remains a potential target for terrorist groups. «The UN mission yesterday renewed the alert launched on June 2nd to its civilian and military members operating in the zone», says a source in the Sahara. «The message calls the elements of the Minurso mission to remain cautious while on duty, whether in the territory controlled by Morocco or in the other side of the security
The criminal court of first instance in charge of terrorism-related cases pronounced, on Thursday evening, sentences ranging from 5 to 20 years in prison, against 11 defendants. The convicts were linked to terrorism cases. The chamber thus sentenced the main accused to 20 years in prison, and 18 years in prison for two other defendants, 10 years to 5 and five years in prison for the rest. The accused are charged for «organizing a gang and preparing for terrorist acts as part of a
Morocco’s government adopted on Thursday a bill regarding amendments to the status of Bank Al-Maghrib (BAM), which will grant it more autonomy. The new project comes hand in hand with the new exchange rate flexibility measure and is a step towards central bank independence (IBC) recommended by the International Monetary Fund.
Air Arabia is launching a new line linking Marrakesh and London Gatwick airports. The air line will be operational starting from November the 1st and aims to promote the city, indicates Zone Bourse. The airline is thus expanding its offer to Britain, «one of the main basins issuing tourists in Europe,» said the same source. Two flights a week will be offered each week, on Wednesdays and Saturdays. Adel Ali, the chairman of the Air Arabia group, said: «The opening of a
Accused of «advocacy and incitement of terrorism» following the assassination of the Russian ambassador to Ankara last December, the seven young facebook users were sentenced on Thursday to prison ranging from one to two years. A ruling that remains «exaggerated and distressing», according to their lawyer.
Following the ruling of the South African court regarding the phosphate cargo shipped from Morocco to New Zealand, OCP, the leading state-owned company, has accused the court of «political piracy» for detaining the 54,000 ton shipment for more than 73 days, Stuff.co reports. Speaking to the same source, Mark Wynne, chief executive of Balance Agri-Nutrients, the fertilizer company that was awaiting the phosphate shipment sent by OCP, said that Morocco’s decision was
The government council, held on Thursday, adopted Bill 40-17 on the status of Bank Al Maghrib, presented by the Minister of Economy and Finance. This project is devoted to redesigning the status of Bank Al Maghrib through the expansion of its missions contributing to the prevention of systemic risk and strengthening financial stability and to adapt its instruments of intervention to this mission, The Deputy Minister for Relations with Parliament and Civil Society, government spokesman