EIB
EIB has granted a loan to develop highways in Morocco. Credit: European Investment Bank.

The European Investment Bank (EIB) and the Société Nationale des Autoroutes du Maroc (ADM), the Moroccan Motorway Company, have signed an €80m ($90.06m) loan agreement to upgrade highway infrastructure in Casablanca.

Funds will be used for tripling the Casablanca-Berrechid highway lanes on 25.8km and building a 31.7km long bypass in Casablanca.

Upon completion, the project is expected to cut congestion in Greater Casablanca, enhance conditions for transport, and develop mobility, as well as improve road safety.

EIB vice-president Emma Navarro was quoted by the North Africa Post as saying that Morocco is a ‘key partner of the European Union and the European investment institution’.

“This loan responds to Europe’s desire to support the development of Moroccan infrastructure.”

Navarro told the publication that the EIB ‘stands ready to support the long-term ambitious plans and strategic investments of the kingdom. This loan responds to Europe’s desire to support the development of Moroccan infrastructure’.

ADM director general Anouar Benazzouz told the news portal this project will contribute to the development of the Casablanca metropolis, improve the flow of traffic and strengthen the security of users.

EIB has invested approximately €5bn in new projects in key sectors of the Moroccan economy since 2007. The sectors include energy, urban transport, water, and sanitation, along with youth education.

Morocco is the second-largest recipient of EIB financing from neighbouring southern European countries with 25% of the bank’s total investment in the region.

ADM operates as Morocco’s national authority for the management of more than 1,400km of the country’s expressways.