The European Investment Bank (EIB) and the Moroccan national railway company Office National des Chemins de Fer (ONCF) have announced the signature of a €200 million (MAD 2.1 billion) finance contract, accounting for 80% of an overall funding envelope of €250 million made available to ONCF. The remaining €50 million (MAD 527 million) is planned to be covered by a signature to take place in 2023.
This is the first project signed under the EU-Morocco Green Partnership which itself is the first partnership to be formalised under the external policy dimension of the European Green Deal. This financing is also a concrete implementation of the political policy of the European Union’s new Agenda for the Mediterranean and the Team Europe initiative.
This new financing will support ONCF’s investment plan aiming to renew existing conventional railway infrastructure and strengthen the modernisation of equipment with cutting-edge technology across the 2 300 km Moroccan rail network. It will contribute to the development of low-carbon sustainable mobility, while also promoting more equal access to rail services in the different regions of the country.