World Bank to inject $265 million into Ifahsa pumped-storage hydroelectric project
via Le Matin2 min read
The World Bank is set to approve $265 million in funding for the Ifahsa Pumped-Storage Hydropower Plant STEP project, led by the National Office of Electricity and Drinking Water ONEE. The total project cost is estimated at $500 million. The International Bank for Reconstruction and Development IBRD, a World Bank arm, will contribute $220 million, supplemented by $45 million from trust funds, including $30 million from the Clean Technology Fund and $15 million from the IBRD Surplus-Funded Livable Planet Fund. The African Development Bank AfDB will provide the remaining $235 million. The project, located approximately 14 kilometers from Chefchaouen, will have an installed capacity of 300 megawatts MW with five hours of storage, featuring two reversible pump-turbine units of 150 MW each. Its commissioning is anticipated between 2029 and 2030. The project's three main components include $450 million for construction, supply, installation, and commissioning; $30 million for a 62-kilometer, 400-kilovolt kV connection line to the national grid; and $20 million for technical assistance, capacity building, and project management support. This strategic infrastructure aims to enhance the national electricity grid's stability, facilitate renewable energy integration, and secure power supply during peak demand. It will enable the integration of at least 1 gigawatt GW of new renewable generation capacity and is expected to mobilize approximately $1 billion in private capital through the
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Must ReadAchraf Hakimi, captain of the Atlas Lions, will face trial before the Hauts-de-Seine criminal court in France after the Versailles Court of Appeal confirmed his referral in an alleged rape case from 2023. Hakimi has consistently denied the accusations since the beginning. The decision paves the way for a trial, though it does not question his presumption of innocence. Following the announcement, Hakimi posted on social media, stating, "Justice looked me in the eyes and told me: If you weren't famous, there would never have been a case. I chose to remain silent for years. I thought that remaining dignified, being patient, and trusting justice would lead to the right decisions being made. Today, a story that is not mine is being told to the detriment of my family, my life, and above all, the truth. Sometimes I feel like I've become an easy target. I have been waiting for this trial since day one. And I am now looking forward to it. Finally, I will be able to speak." The case dates back to February 2023, when a 24-year-old woman reported meeting Hakimi on Instagram and going to his home in Boulogne-Billancourt. She alleged non-consensual acts and an alleged rape, stating she pushed him away and messaged a friend for a ride. Hakimi was charged in March 2023 and placed under judicial supervision. The Versailles Court of Appeal found "sufficient evidence" from the investigation to justify a criminal trial. The trial date is not yet known. Hakimi's lawyer, Me Fanny Colin, emphasized
The Moroccan national team will play Scotland on Friday, June 19, at 11 PM, in a decisive match for qualification to the round of sixteen in the 2026 World Cup. Following a promising draw against Brazil, the Atlas Lions must secure a victory to significantly advance their position in the competition before their final group stage match against Haiti.
Must ReadMorocco is consolidating its position as a key player in Africa's digital transformation, as highlighted in the new report "Africa鈥檚 Digital Momentum: Four Structural Imperatives" by BCG Platinion, the technology branch of the Boston Consulting Group. The report identifies four critical priorities for the continent's digital future: infrastructure, emerging technologies, talent, and cybersecurity. Africa is moving beyond being merely a technology adoption market, entering a new phase of digital maturity characterized by innovation, industrialization of digital uses, and the emergence of local technological capabilities. This dynamic is driven by a young demographic, increased digital investments, the development of real-time payments, and the integration of artificial intelligence and distributed technologies into public policies and economic models. The report emphasizes the need for public and private organizations to build scalable, interoperable, and resilient infrastructures, moving towards cloud-native architectures and real-time platforms. It also stresses the importance of industrializing emerging technologies like AI and blockchain to improve efficiency and service quality. Morocco is presented as a reference market in this transformation, with its Maroc AI 2030 roadmap aiming to make AI a driver of national competitiveness, targeting a $10 billion contribution to GDP and 50,000 AI-related jobs by 2030. The development of the Tech Hub BCG in Casablanca and Benguerir,