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The World Bank injects funds into Morocco

The Casablanca-Settat region has just officially signed the agreement to grant a loan of 100 million dollars, or more than MAD 1 billion, to the International Finance Corporation (IFC), a subsidiary of the World Bank.

Initialed Mustapha Bakkoury, President of the Casa-Settat Regional Council, Nabil Belabed, CEO of Casa Transports, and Sérgio Pimenta, IFC Vice-President for the Middle East and Africa, this agreement relating to a loan of $ 100 million will finance the contribution of the Casablanca-Settat Region in the construction of lines 3 and 4 of the tramway in Casablanca and the construction of approximately 2,020 km of tracks and roads in the rural communities of the region.

“This IFC funding is accompanied by a comprehensive technical assistance program for the Casablanca-Settat Region, as part of the IFC Cities Initiative,” said Sérgio Pimenta.

The Casa-Settat region includes 2 prefectures, Casablanca and Mohammedia, and 7 provinces (Settat, Berrechid, Sidi Bennour, El Jadida, Médiouna, Nouaceur and Benslimane). It also has 153 municipalities, including 28 urban and 127 rural, or roughly 10% of all municipalities nationwide

For his part, Mustapha Bakkoury noted that this is the first time that a region has used commercial financing as part of an infrastructure project, adding that Casa-Settat thus opens the way to other regions and communities to diversify their sources of funding, thus supporting the dynamic of advanced regionalization of the Kingdom.

The Casablanca-Settat Region is participating in the creation of the public transport network on its own site (TCSP) with an amount amounting to MAD 1.4 billion. This contribution aims to achieve lines totaling 80 km of public transport in high-end tram and bus mode.

In detail, the Casablanca-Settat Region contributed with an amount of MAD 385 million in the construction of the 2nd line and the completion of the first tram line. While the participation of the region in the third and fourth line of the Casablanca tram reached MAD 629 million. On the other hand, the region’s participation in the creation of high-end bus lines, totaling 25 km, reached MAD 426 million.

In addition, the Casablanca-Settat Regional Council launched in 2017 the Massaleek program, the objective of which is to develop 4,500 km of rural roads. These tracks were chosen according to the level of landlocked populations, the points of interest they can serve and the availability of technical studies prepared by the municipalities concerned in collaboration with the technical services of the provinces or prefectures to which they belong.

Note that the 1st phase (876 km) is almost complete. It required an investment of around MAD 253.9 million.

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