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Morocco’s National Railways Office (ONCF) is seeking USD 8.8 bn in investments for its rail expansion plan, head of the African Development Bank (AfDB) Akinwumi Adesina told Reuters on Friday after a three-day Africa Investment Forum in Rabat. The project reportedly obtained over USD 13 bn worth of financial commitments from investors, and the bank could secure over USD 29.2 bn for African development projects across several sectors, including transport, infrastructure, water supply, and energy.
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Expansions and additions: ONCF rolled out a MAD 9.78 bn (c. USD 988.3 mn) railway development investment plan back in October for 2025-2027, which includes extending the high-speed rail line (LGV) from Kenitra to Marrakech as well as establish a regional express network (RER) for Casablanca, Rabat, and Marrakech. This is different from Morocco’s Railway Strategy 2040, which is a comprehensive long-term plan for the development of the national railway network, expected to cost MAD 87 bn (c. USD 8.5 bn). ONCF also aims to expand its network to serve 43 — or 87% — of Morocco by 2040, the newswire added.
Morocco’s been making moves: ONCF awarded a contract back in November to a consortium of Spanish engineering firm Ineco and Morocco’s CID to carry out the preliminary project for the railway service between the Moroccan cities of Oued Zem and Beni Mella, as well as
China Overseas Engineering Corporation (Covec), which inked a MAD 1.34 bn (c. USD 133.9 mn) contract for the high-speed line (LGV) from Kenitra to Marrakech.
IN OTHER FINANCING NEWS-
Morocco’s Nador West Port gets a financing boost: AfDB inked a EUR 129 mn agreement with Morocco to boost industrial activity at Morocco’s Nador West Med Port Business Park Development Project, MAP reported last week. The agreement aims to support the development of economic zones as well as industrial and logistical facilities at the port. The funds are part of three funding agreements between Morocco and the AfDB worth EUR 344.7 mn.
More on the cards: The African bank is also pouring EUR 650 mn to support Morocco’s 2030 World Cup preparations — which includes financing the development of the country’s railway and airport infrastructure, Morocco World News reported on Friday.
AfDB and Morocco of history: Morocco’s Banque Centrale Populaire (BCP) and AfDB inked a USD 70 mn risk-sharing agreement (RSA) back in May to boost trade across the continent and expand private sector financing. AfDB also offered Morocco’s Bank of Africa (BOA Group) USD 78.3 mn (EUR 70 mn) back in October, which is expected to catalyze almost EUR 300 mn worth of trade over 3.5 years. The trade finance facility includes a Risk Participation Agreement (RPA) worth EUR 50 mn and a Trade Finance Line of Credit (TFLOC) amounting to EUR 20 mn.
