The European Investment Bank (EIB) and the National Railways Office (ONCF) announced on Wednesday the signing of a financing contract of 200 million euros (2.1 billion dirhams). This is the “first project signed within the framework of the Green Partnership with the Kingdom of Morocco, signed on 18 October 2022 in Rabat, which also represents the first partnership concluded within the framework of the external dimension of the European Green Deal”. states the EIB in a press release.
The amount represents 80% of a total framework of 250 million euros made available to the ONCF. The remaining 50 million (527 million dirhams) is planned for signature in 2023. This funding will thus concretize on the spot the political guidelines for the EU’s New Mediterranean Agenda and the “Team Europe” initiative (Team Europe), we add. This new funding supports the ONCF’s investment plan, which aims to renew the existing conventional railway infrastructure and strengthen the modernization of facilities with advanced technology over the entire 2,300 km of the Moroccan railway network. It will contribute to the development of sustainable, low-carbon mobility while promoting a better territorial balance in terms of access to rail services.
In particular, the loan will finance projects under the national program for the rehabilitation and upgrading of the Moroccan railway network, such as infrastructure, equipment and industrial workshops. In particular, it will contribute to the renewal and repair of tracks, constructions and electric traction systems, as well as the improvement of signaling, telecommunications and safety systems on the railway network. Climate change adaptation measures are also planned, such as the implementation of flood protection programs on the network. Throughout the duration of the project, the EIB will support the ONCF to consolidate its climate adaptation roadmap, we conclude.