Morocco Secures Mega Investments At Africa Investment Forum

Morocco emerged as the largest beneficiary of the Africa Investment Forum AIF after its railway operator, ONCF, presented a strategic plan to expand its services at a total cost of 8.8 billion. Notably, the project attracted investor interest amounting to 14 billion, according to African Development Bank President Akinwumi Adesina. He described the project as a big success for Morocco during a press conference at the conclusion of the Forum in Rabat.

Adesina also announced a 650 million loan for Morocco, pending approval by the Banks board. This loan will support the development of rail and airport transport infrastructure ahead of the World Cup, which Morocco will co-host with Spain and Portugal.

Overall, Morocco and the African Development Bank signed three agreements totalling nearly 350 million during the Africa Investment Forum AIF in Rabat. These agreements further solidify the Banks long-standing relationship with the Kingdom, which spans over 50 years and includes interventions in key sectors such as health, human development, water, agriculture, energy, transport, and finance.

The first loan agreement, valued at 120 million, will finance the Support Programme for Strengthening Economic Governance and Resilience to Climate Change. This program aims to support crucial economic and sectoral governance reforms, particularly the ongoing reform of state-owned enterprises.

The second agreement, valued at 104.7 million, will fund a project to digitise water management. It will improve technical performance in various regions of Morocco and urban areas, helping the Kingdom to maintain a high quality of life for its rapidly urbanising population.