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Morocco is set to receive US $91m funds from the European Investment Bank (EIB) and the Moroccan Motorway Company, la Société Nationale des Autoroutes du Maroc (ADM) who signed a financing agreement meant to upgrade highway infrastructure in an around Casablanca.
Speaking during the signing ceremony, Vice President of the EIB, Emma Navarro said that the loan responds to Europe’s desire to support the development of Moroccan infrastructure.
The highway upgrade will entail tripling of the Casablanca-Berrechid highway lanes and construction of a 31.7 km long bypass of Casablanca. The tender process is will open soon. The project will relieve traffic congestion in the Greater Casablanca, improve transport conditions, develop mobility and strengthen road safety.
Morocco’s vehicle population is growing steadily as its economy develops and the country’s cities are seeing major increase in traffic congestion. The Greater Casablanca route currently carries around 70,000 vehicles/day
Since 2007, the EIB has invested almost US $6bn in new projects in key sectors of the Moroccan economy, such as urban transport, energy, water and sanitation, as well as youth education. Benefiting from 25% of the bank’s total investment in the region, Morocco is the second-largest recipient of EIB financing from neighboring southern European countries. |
