This is part of the previously approved program size of USD 1.2 billion to help the country face medium-term balance of payments problems.
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According to the IMF, recovery was supported by the 2022 peace agreement in Ethiopia, which generated a significant expansion in port activities, train traffic, construction, and energy production.
The International Monetary Fund (IMF) said that notwithstanding the pickup in growth, continued efforts to address water scarcity and enhance governance are essential to bolster Morocco’s growth.
The fund and local authorities agreed to a USD 1.2 billion loan. The country is expected to grow 2.6% this year.
The initiative aims to find 1,000 exceptional talents among Arab scientists, thinkers, and innovators.
Since it was funded in 1961, the Kuwait Fund for Arab Economic Development financially supported 986 enterprises worth USD 20 billion.
Mohammed Bin Zayed Fund from the UAE is going to sponsor project developed by Federal University of Santa Catarina.
An IMF team visited Muscat from April 3 to 16 and made a positive assessment on the economic scenario, forecasting an increase in revenues from other sectors other than oil.
