Morocco’s Casablanca‑Settat region has become the first regional authority in the country to tap the capital markets, issuing 1 billion dirhams (€92 million) local-currency bond with cornerstone support from the European Bank for Reconstruction and Development (EBRD).
The EBRD said it invested MAD 400 million (€36.8 million) in the issuance, helping to ensure the bond’s successful placement and marking a milestone for Morocco’s municipal and regional debt market.
It is only the second time a sub-sovereign bond has been issued in Morocco and the first by a region.
Proceeds from the bond will finance priority projects under Casablanca-Settat’s 2022–2027 Regional Development Plan, as the region seeks to diversify its funding sources beyond traditional budgetary transfers and bank borrowing by accessing domestic capital markets.
The EBRD’s investment will also trigger Casablanca-Settat’s entry into EBRD Green Cities, the bank’s flagship program supporting cities and regions in addressing climate and environmental challenges.
As part of the program, the region will develop a Green City Action Plan and launch a pilot mobility planning initiative aimed at promoting greener, smarter and more inclusive transport.
