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TunisiaEBRD backs first municipal bond in Morocco
The European Bank for Reconstruction and Development (EBRD) is supporting Agadir, capital city of Morocco’s Souss-Massa region, in its plans to diversify funding sources by tapping the debt-capital market, with an investment of MAD 400 million in a local-currency bond of MAD 1 billion issued by the City of Agadir.
The Bank’s investment will help Agadir free up additional resources to implement its ongoing Urban Development Program, focusing on green and inclusive infrastructure projects.
This subscription will serve as a trigger investment under the EBRD Green Cities programme, formally initiating Agadir’s participation in the programme and making the city the first in Morocco to join the scheme. Under EBRD Green Cities, Agadir will commit to developing a Green City Action Plan (GCAP), which will identify its key environmental challenges and the measures – investments and policy actions – required to address them.
Countries covered:
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Morocco
