The European Investment Bank announced the provision of a new loan to Morocco worth €500 million ($578 million) to support the reconstruction of areas affected by the Al Haouz earthquake, raising its total funding allocated for this operation to €1 billion, amid growing questions and criticisms regarding the management of funds directed to the affected and the progress of reconstruction projects nearly three years after the disaster. The bank, the financing arm of the European Union, clarified that the new funding will be allocated to support essential infrastructure, including roads, schools, and health facilities, in areas that suffered severe damage due to the earthquake that struck Morocco in September 2023, resulting in over 2,900 deaths and thousands affected.
Algeria - The process of expanding the powers of public administration representatives at the one-stop shops of the Algerian Investment Promotion Agency continues, through the delegation of State Property Administration representatives to prepare and sign lease contracts for economic land, as part of simplifying administrative procedures and accelerating the realization of investment projects.
Algeria - The General Directorate of Taxes announced today, Sunday, in a statement, the extension of the deadlines for subscribing and submitting a number of tax declarations for taxpayers subject to the real profit system and the single flat-rate tax system, in order to enable them to meet their tax obligations under the best conditions.
Most homes and farms are not insured against fires; farmers are the most exposed to losses due to weak subscription. New insurance products to face climate disasters, digitization, and artificial intelligence to reduce compensation times. Hassen Khalifati, a member of the board of the Algerian Union of Insurance and Reinsurance Companies, warned that the expansion of fires in Algeria, due to heat waves and climate changes, is met with a clear weakness in the demand for fire insurance, which increases the losses incurred by families, farmers, and economic institutions when disasters occur. Khalifati explained, in a statement to 'Echorouk', that there are no accurate and updated statistics to determine the percentage of homes or farms...
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