Morocco’s national rail operator, ONCF, is on a mission to secure $8.8 billion in funding to fuel its transformative expansion vision.
Akinwumi Adesina, President of the African Development Bank (AfDB), revealed on Friday that investor interest has surpassed expectations, with financing offers exceeding $13 billion.
This announcement followed the conclusion of the three-day Africa Investment Forum in Rabat.
The AfDB, in collaboration with global financial institutions, plays a pivotal role in advancing large-scale infrastructure projects across Africa.
At this forum, the bank successfully attracted $29.2 billion in funding commitments for diverse sectors, including transport, energy, water supply, and tourism.
ONCF’s plans include extending Morocco’s high-speed rail network to Marrakech by 2030, coinciding with the country’s co-hosting of the FIFA World Cup.
A further expansion southward to Agadir is also on the agenda.
By 2040, the rail operator envisions doubling its network to connect 43 cities, serving 87% of Morocco’s population.
These efforts aim to bolster mobility, enhance economic opportunities, and position Morocco as a regional transportation hub.
The ONCF has yet to issue a public comment on the recent funding developments.
