Morocco and the European Investment Bank (EIB) have signed two financing agreements worth a total of €365 million, including €350 million in loans and a €15 million grant from the European Union.
The first agreement includes a €50 million EIB loan, complemented by a €15 million EU grant, to finance the rehabilitation of Morocco’s railway network through the National Railway Office (ONCF).
The second agreement provides a €300 million loan to Morocco’s National Motorway Company to finance a project aimed at improving the resilience and modernization of the country’s motorway network.
The agreements were signed in Rabat in the presence of Morocco’s Minister of Economy and Finance, Nadia Fettah, the President of the European Investment Bank Group, Nadia Calviño, along with Moroccan and European officials.
Speaking at the ceremony, Nadia Fettah praised the EIB’s continued commitment to supporting Morocco’s strategic infrastructure projects and reaffirmed the Kingdom’s determination to strengthen its partnership with the European institution in key sectors of the national economy.