The African Development Bank (AfDB) announced on Thursday plans to provide EUR 650 million in funding to support Morocco’s preparations for hosting the 2030 FIFA World Cup.
AfDB President Akinwumi Adesina shared the news during his meeting in Rabat with Morocco’s Head of Government Aziz Akhannouch.
Adesina confirmed that the funding will focus on enhancing infrastructure, specifically railways and airports. “To support Morocco’s World Cup preparations, the AfDB will soon launch a financing project worth EUR 650 million to strengthen the country’s competitiveness in this area,” he stated.
The AfDB maintains a robust relationship with Morocco, which it considers a key partner. The bank’s active portfolio in the kingdom includes 37 projects valued at USD 3.6 billion. The initiatives span key sectors, including infrastructure, energy, water, sanitation, and private enterprise development.
Adesina highlighted the bank’s recent approval of USD 1.5 billion in funding for Morocco this year. Discussions with Akhannouch also addressed youth employment and skill development, areas the AfDB has pledged to continue supporting.
Adesina said her institution is grateful to King Mohammed VI for backing the AfDB, particularly in facilitating the Africa Investment Forum currently taking place in Rabat.