Morocco and BEI sign 365 million euro deal to boost rail and road safety
The Kingdom of Morocco and the European Investment Bank (BEI) have finalized agreements worth a total of 365 million euros to enhance the resilience and safety of the country’s rail and road infrastructure networks.
Signed in Rabat, the financing deals were approved by Lionnel Rapaille, Deputy Director of BEI Monde, Mohamed Smouni, Deputy General Director of the National Railways Office (ONCF), and Daniele Dotto, Deputy Head of the European Union Delegation to Morocco, in the presence of Nadia Fettah, Minister of Economy and Finance, and Nadia Calviño, President of the BEI.
The first agreement includes a BEI loan of 50 million euros, complemented by a 15 million euro grant from the European Union, specifically allocated to the ONCF’s rail rehabilitation project. This initiative aims to modernize and strengthen Morocco’s rail network, improving both efficiency and safety for passengers and freight transport.
The second agreement involves a 300 million euro BEI loan to the National Highway Authority (ADM) for its highway resilience project. This funding will support upgrades and reinforcements to Morocco’s highway system, ensuring long-term durability against environmental challenges and increasing transportation reliability across the kingdom.
During the signing ceremony, Nadia Calviño emphasized Morocco’s role as a strategic partner for the BEI, highlighting the country’s contribution to regional stability and prosperity. She noted that Morocco continues to be a key investment driver for the European Union in the region.
Nadia Fettah echoed this sentiment, underscoring the strength of the strategic partnership between Morocco, the EU, and the BEI. She pointed out that this collaboration, spanning over five decades, has yielded tangible benefits for citizens, including improved infrastructure and economic growth.
These new financing agreements are set to support sustainable and modern mobility solutions in Morocco, reinforcing the kingdom’s position as a leader in infrastructure development and environmental action within the region.
