Morocco's state-owned rail operator, ONCF, is seeking $8.8 billion from investors to finance its expansion plan, the head of the African Development Bank (AfDB), Akinwumi Adesina, has said.
High speed train "Al-Boraq" at Casablanca train station © Mena Today
Morocco's state-owned rail operator, ONCF, is seeking $8.8 billion from investors to finance its expansion plan, the head of the African Development Bank (AfDB), Akinwumi Adesina, has said.
He told reporters late on Friday after a three-day Africa Investment Forum in Rabat that investors were ready to extend ONCF more than the required amount, with financing offers totalling over $13 billion.
AfDB partners with other banks and financial institutions for some large-scale development projects it finances across the continent.
During the closed-door event, the bank could garner a total financing worth $29.2 billion for African development projects including water supply, energy, transport, private equity, tourism, infrastructure and pharmaceuticals.
Morocco plans to extend its high-speed train network to Marrakech before the 2030 World Cup, and further south to Agadir.
The operator also aims to stretch its network to double the number of cities it serves to 43, or 87% of the Moroccan population, by 2040.
Reporting by Ahmed Eljechtimi
Human Rights Watch has accused an Abu Dhabi-based security company of recruiting Colombian private military contractors and deploying them to fight alongside Sudan's Rapid Support Forces (RSF) between 2024 and 2025, adding to what the rights group describes as a growing body of evidence of Emirati military support for the paramilitary group.
Farmers across Sudan say the hike in global fuel and fertilizer costs resulting from the Iran conflict will force them to cut back on planting this summer, restricting food production in a country where war has caused acute hunger.
At least nine people were killed and six others injured when a four-storey building collapsed overnight in the Moroccan city of Fez, about 200 kilometres (124 miles) east of Rabat, local authorities said on Thursday.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.