EIB grants Morocco €365 million for road and rail networks
via Le Matin3 min read
The European Investment Bank EIB has granted Morocco €365 million to strengthen its road and rail networks. The agreements were signed by Lionel Rapaille, Deputy Director of EIB Global, Mohamed Smouni, Deputy Director General of the National Office of Railways ONCF, and Daniele Dotto, Deputy Head of the European Union EU Delegation to Morocco. The signing took place in the presence of Nadia Fettah, Minister of Economy and Finance, and Nadia Calviño, President of the EIB. The first agreement involves a €50 million EIB loan, supplemented by a €15 million EU grant, for the "ONCF - Railway Rehabilitation" project. The second agreement, between the EIB and the national company Autoroutes du Maroc ADM, provides a €300 million EIB loan for the "ADM - Motorway Resilience" project. These investments aim to improve mobility, enhance infrastructure resilience, and deliver benefits for the population and businesses, while also fostering regional integration and stronger economic ties between Europe and Africa. Nadia Calviño affirmed Morocco's long-standing strategic partnership with the EIB, highlighting the Kingdom's role in regional stability and prosperity. She noted that this marks a new phase in the EU-Morocco relationship. Nadia Fettah praised the strong strategic partnership between Morocco, the EU, and the EIB, emphasizing 50 years of cooperation and 20 years of EIB presence in Morocco. She stated that the new funding supports concrete projects for sustainable and modern mobility
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