$91 million for Moroccan road development
The European Investment Bank and Moroccan road agency, la Société Nationale des Autoroutes du Maroc (ADM) have signed a financing agreement for $91 million in funding, meant to upgrade highway infrastructure in an around Casablanca.
Emma Navarro, Vice President of the EIB, said that there is a desire in Europe to support the development of Moroccan infrastructure.
The upgrade will triple the number of lanes of the Casablanca-Berrechid highway and includes the construction of a 31.7 km long bypass of Casablanca.
The project is meant to relieve congestion in and around greater Casablanca, improving traffic flow and strengthening road safety on a route which currently carries about 70,000 daily.
Morocco has been the recipient of more than $6 billion in funding from the EIB across multiple infrastructure investments.
The project will open for tender soon.