📋 Tender Overview
The European Investment Bank EIB and the Moroccan national railway company Office National des Chemins de Fer ONCF have announced the signature of a 200 million MAD 2.1 billion finance contract accounting for 80 of an overall funding envelope of 250 million made available to ONCF. The remaining 50 million MAD 527 million is planned to be covered by a signature to take place in 2023.This is the first project signed under the EU-Morocco Green Partnership signed in Rabat on 18 October 2022 which itself is the first partnership to be formalised under the external policy dimension of the European Green Deal. This financing is also a concrete implementation of the political policy of the European Unions new Agenda for the Mediterranean and the Team Europe initiative.This new financing will support ONCFs investment plan aiming to renew existing conventional railway infrastructure and strengthen the modernisation of equipment with cutting-edge technology across the 2 300 km Moroccan rail network. It will contribute to the development of low-carbon sustainable mobility while also promoting more equal access to rail services in the different regions of the country.The loan will finance the projects of the Moroccan national rail network rehabilitation and upgrade programme for infrastructure equipment and industrial workshops. It will contribute in particular to the renewal and repair of tracks infrastructure and electric traction installations as well as improvements to signalling communications and safety systems on the rail network.Climate change adaptation measures such as the implementation of flood protection programmes are also planned. The EIB will help ONCF to consolidate its climate adaptation roadmap throughout the project.Fully aligned with the goals of the Paris Agreement this support will contribute to the EIBs key priorities as the EU climate bank in transport and climate action while also strengthening the implementation of Moroccos nationally determined contributions NDCs.This operation will also help to achieve several United Nations Sustainable Development Goals SDGs particularly building sustainable resilient and accessible infrastructure SDG 9.1 ensuring access to safe accessible viable and affordable transport systems for all SDG 11.2 and strengthening resilience and adaptive capacity to climate-related hazards SDG 13.1.Safe accessible and modern transport is key to the economic and social development of Morocco. Reliable and efficient railway infrastructure will not only facilitate the movement of goods and services but will also improve economic and social inclusion across the country by making access for vulnerable people and those with reduced mobility easier said EIB Vice-President Ricardo Mourinho Flix who is responsible for financing in Morocco. We are pleased with our partnership with ONCF and this new project which is fully in line with the EIBs overall climate objective and which enables us to support Morocco in its transition to a low-carbon environmentally friendly and climate-resilient economy.ONCF CEO Mohamed Rabie Khlie added Following the certification of its first green bond operation in July ONCF is pleased to take another step forward in its financing strategy with the implementation of this privileged partnership with the EIB. It is the first operation of its kind without a government guarantee. This vote of confidence from a respected international partner supports ONCFs strategic choices and confirms the strength of the Moroccan railway model. This operation also further consolidates ONCFs corporate social responsibility and sustainable development commitments.
