Morocco Pledges $209 Million Renovation Project in Five Moroccan Cities
- 08 March 2020 / News / 436 / ABI 1
The Tangier-Tetouan-Al Hoceima region council and the Wilaya (administrative division) of the same region have approved partnership agreements to renovate and develop five northern Moroccan cities with a budget of MAD 1.86 billion.Eight ministries signed the convention, including the Ministry of Economy and Finance, the Ministry of Culture, and theMinistry of Tourism.The partnership agreement took place on Monday.The five projects will concern the cities ofTangier, Chefchaouen, Ouezzane, Ksar El Kebir, and LaracheThe initiatives aim to preserve the cultural value of Medinas (old cities), enhance the tourism potential, as well as developing the urban areas.The council is expected to contribute MAD 267 million ($27 Million) to the projects.The Medina of the city of Tangier will benefit from MAD 850 million ($88 Million) of the budget, MAD 338 million ($35 Million) for Larache, MAD 315 million ($32 Million) for Ksar el Kebir, MAD 242 million ($25 Million), and MAD 115 million ($12 Million) for Chefchaouen.The Wali (governor) of the region of Tangier TetouanAl-Hoceima, Mohamed Mhidi, said the project comes at the request of King Mohammed VI.“The city of Tetouan is experienced in terms of renovation, something for which we should be proud,” added the Wali.The redevelopment of the five cities will include the refurbishment of traditional hotels, restaurants, and the reconstruction of ruins.The renovation process will engage civil society and local architects.The five projects coincide with the launch of a similardevelopment program in Fezby king Mohammed VI. The Fez initiative aims to enhance economic activities, improve living conditions, and safeguard traditional trades.The development program in Fez has a budget of MAD 670 million ($70 Million), including MAD 87.5 million ($9.1 Million) dedicated to 33 heritage sites over the Moroccan spiritual capital.
Egypt : CBE Total volume of CCC credit guarantee scheme portfolio hit EGP 30.8 bln in July
- 23 October 2020
CAIRO - The Central Bank of Egypt (CBE) announced Wednesday over a threefold increase in the total volume of the portfolio of the credit guarantee scheme provided by the Credit Guarantee Company (CCC)...