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AfDB Invests €1.26 Billion in Morocco's Development: A Strategic Partnership for Progress

The African Development Bank (AfDB) has launched a significant €1.26 billion (MAD 12.89 billion) investment package for Morocco, marking a substantial commitment to the Kingdom’s economic and social advancement. Since the start of 2024, the AfDB has unveiled nine strategic projects across......

Morocco Secures Seat on African Union Advisory Board on Corruption

Nadia Annouz Elected with Overwhelming Support In a significant development, Morocco has been elected to the African Union Advisory Board on Corruption (AUABC) during the 45th Ordinary Session of the AU Executive Council, which took place in Accra, Ghana. Nadia Annouz, currently the vice-president......

Historic Mamounia Hotel Changes Hands: A $173 Million Deal

In a landmark transaction, the Moroccan government has sold its shares in the legendary Mamounia Hotel to the state-owned OCP Group for a sum of 1.7 billion dirhams ($173 million). This move signals a significant shift in ownership for Morocco's oldest and most illustrious hotel, celebrated globally......

ICSID Ruling: Moroccan State Prevails in SAMIR Oil Refinery Dispute

In a landmark decision on Monday, the International Centre for Settlement of Investment Disputes (ICSID) dismissed the majority of claims brought by Corral Morocco Holding against the Moroccan state concerning the SAMIR oil refinery case. The ICSID awarded Corral a modest $150 million in compensation,......

Moroccan Taxis Embrace Digital Transformation

Morocco has taken a significant step forward in modernizing its public transportation system, with taxi drivers across the country now equipped with innovative digital tablets that are revolutionizing the taxi experience. The company behind this transformation is Itechia, which recently launched the......

Morocco Unveils Stringent Measures to Curb State Vehicle Misuse

In a bold move to enhance fiscal responsibility and public accountability, the Moroccan government is poised to implement sweeping reforms in the management of state-owned vehicles. This initiative, spearheaded by a forthcoming Prime Ministerial decree, aims to address longstanding concerns over the......

Paris Peace Forum Navigates Path for Equitable Global Transitions

The Paris Peace Forum (PPF) concluded its groundbreaking Spring Meeting in Benguerir, Morocco, at the University Mohammed VI Polytechnic (UM6P), marking a historic first as the global governance platform convened outside Europe. This strategic shift in location underscored a central theme of the event:......

Morocco and World Bank Forge "Rapid Response" Partnership

In a significant step toward bolstering the Kingdom's capacity to swiftly respond to emergencies and provide crucial support to its citizens, Morocco and the World Bank inked the "Rapid Response Option" (RRO) agreement on Monday. This milestone signifies a deepening of the long-standing......

Morocco Implements Incremental Price Increase for Butane Cylinders

The Ministry of Economy in Morocco has announced an impending price increase for gas cylinders, aiming to partially reduce the subsidy on butane cylinders for 2024. Effective from May 20, 2024, the cost of a 12 kg gas cylinder will rise by MAD 10, escalating from MAD 40 to MAD 50. Similarly, the price......