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Thursday 22 December 2016

AFESD Provides Additional 1.6 bln Dirhams to Support Morocco's High-Speed Train Project

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AFESD Provides Additional 1.6 bln Dirhams to Support Morocco's High-Speed Train Project

The Arab Fund for Economic and Social Development (AFESD) is committed to contributing to the financing of the Rabat-Ville and Rabat-Agdal railway stations project, specific to the high-speed train (TGV) with an additional sum of 1.6 billion dirhams.
AFESD Provides Additional 1.6 bln Dirhams to Support Morocco's High-Speed Train Project

Under the agreements signed, Thursday in Rabat, between the ministry of Economy and Finance, the National Railway Authority (ONCF) and the AFESD, the Fund granted a new loan of 1.6 billion dirhams with preferential terms, notably an interest rate of 2.5% over a period of 25 years.

The construction of the Rabat-Ville and Rabat-Agdal railway stations is part of Morocco's efforts to modernize the basic infrastructure of rail transport through the development of the functional and social structure of the stations, said Economy and Finance minister, Mohamed Boussaid, in a speech during the signing ceremony of the agreements.

It aims to accompany the planned increase in passenger transport activity, particularly on the Tangiers-Casablanca axis, Boussaid said.

For his part, AFESD Director General, Abdellatif Youssef Al Hamad, said that "this loan constitutes a new part of the Fund's assistance to the Kingdom concerning the TGV project."

In 2012, AFESD contributed to the financing of the Tangiers-Casablanca high-speed railway line project with 864 million Dirhams.

MAP 22 December 2016