EIB, ONCF Ink € 200 Mln Financing Contract To Boost Railway Infrastructure

The European Investment Bank (EIB) and Morocco’s Railway Office (ONCF) announced, on Wednesday, the signing of a financing contract worth 200 million euros (MAD 2.1 billion), representing 80% of the 250 million euros allocated to the Railway Office to implement its investment plan.
The said plan aims to renovate and modernize the 2,300 km railway infrastructure and ameliorate facilities by equipping them with the latest technology, said a statement by the Bank.
The funding is expected to help develop sustainable, low-carbon transportation, and optimize access to railway services, it added.
Climate change adaptation measures, notably the implementation of flood protection programs, are also planned, it said, noting that the EIB would back up the ONCF to consolidate its Climate Adaptation Roadmap.