EIB lends Moroccan railway operator $190 mln

The European Investment Bank lent Moroccan railway operator 190 million dollars to help it develop its network and services.

The loan is particularly geared to help ONCF increase its low-carbon footprint while expanding its network and services.

State-owned ONCF expects 39.5 million people to have used its trains this year, up 15% compared to 2021, as the country breaks free from two years of sluggish travel due to Covid 19.

Goods transported by the rail operator would stand at 9 million tons this year, up 3% compared to last year.

It also expects revenue to increase by 8% to 3.9 billion dirhams this year.

About Khalid Al Mouahidi 4387 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network