AfDB loans Morocco €350 mln, promises €650 mln for World Cup infrastructure financing

The African Development Bank signed a loan agreement worth 350 million euros in support of Moroco’s economic governance, climate resilience, water management, and industry as it also plans to extend a financing of 650 million euros to help Morocco develop transport infrastructure.

As part of the first loan, signed during the Africa Investment Forum (AIF) in Rabat, the Bank will offer €120 millio to reinforce economic governance and resilience to climate change.

The African Development Bank also lent the government €104.7 million to improve water supply, while the last batch, worth €120 million, will be dedicated to developing an industrial zone in Nador West Med port.

On the sidelines of the AIF, AfDB president Akinwumi Adesina said the bank is ready to offer Morocco €650 million in financing to help develop Morocco’s transport infrastructure.

“To support Morocco’s preparations for the 2030 World Cup, the AfDB will soon submit for approval a financing project of 650 million euros for the development of railway and airport infrastructure, thus enhancing Morocco’s competitiveness in this field,” Adesina said following talks with Head of Government Aziz Akhannouch.

Reaffirming the Bank’s continued support for Morocco’s structural reforms, Adesina recalled that the Kingdom is the bank’s main partner, with an active portfolio of 37 projects totaling $3.6 billion, covering strategic sectors such as infrastructure, energy, water, sanitation, and the private sector.

This year, the AfDB approved $1.5 billion in financing for the Kingdom, reflecting the importance of this partnership, he said.

Discussions with the Head of Government focused on the challenges of youth employment and skills development, with the AfDB pledging to support Morocco in these priority areas.

The Africa Investment Forum (AIF) is held in Rabat Dec. 4- 6.