Morocco: AfDB to Submit €650 Mln Financing Proposal for Morocco's Preparations for 2030 World Cup

5 December 2024
Maghreb Arabe Presse (Rabat)

Rabat — The African Development Bank (AfDB) intends to support Morocco's preparations for the 2030 World Cup through a €650 million financing package, the President of the multilateral development institution, Akinwumi Adesina, announced here Thursday.

"To support Morocco's preparations for the 2030 World Cup, the AfDB will shortly be submitting for approval a €650 million financing project for the development of rail and airport infrastructure, thereby boosting Morocco's competitiveness in the field," he told the press, following a meeting with Morocco's Head of Government, Aziz Akhannouch.

Reaffirming the Bank's ongoing support for Morocco's structural reforms, Adesina recalled that the Kingdom is the institution's leading partner, with an active portfolio of 37 projects totalling $3.6 billion, covering strategic sectors such as infrastructure, energy, water, sanitation and the private sector.

He added that "this year, the AfDB has approved $1.5 billion in financing for the Kingdom, reflecting the importance of this partnership."

Discussions with the Head of Government focused on the challenges of youth employment and skills development, with the AfDB pledging to support Morocco in these priority areas.

On this occasion, Adesina expressed his gratitude to HM King Mohammed VI for the support the Sovereign has given to the AfDB, particularly for hosting the Africa Investment Forum (AIF), held in Rabat until December 6.

Read the original article on MAP.

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