France’s development agency, AFD, allocated Monday, €100.5 million in form of credit to Casa Transports, for the construction of two tramway lines in the kingdom’s economic capital, Casablanca.
The loan is earmarked for the construction of T3 and T4, two streetcar lines expected to ease public transport and commutes in the crowded city of close to 4 million. €500,000 will serve for technical assistance.
“Through this new partnership, AFD is supporting Casa Transports in the implementation of an efficient and low-carbon transport system that will help provide access to public transport services to as many people as possible and thus facilitate urban mobility and access to employment,” said French ambassador Hélène Le Gal following the signing agreement.
Casa Transports, is a private company in the business city that supports local development. Founded in 2009, the company was commissioned the construction of the city’s first tramway line T1 in 2012.
The new partnership agreement, is the fourth deal between the two sides since the inception of the Moroccan company. In 2012 AFD funded the T1 construction with €23 million and injected additional €30 million for the second line T2.
AFD had also loaned Casa Transports €1.8 million to finance the strategic studies and a technical assistance on the social and environmental aspects of the two projects.