The signing of an intergovernmental financial protocol on the financing of the intellectual services of the TGV(high-speed train) project : 16/11/2016

The signing of an intergovernmental financial protocol on the financing of the intellectual services of the TGV(high-speed train) project

Mr. Mohammed BOUASAID, Minister of Economy and Finance, met November 16th 2016 in Marrakech, with Mr. Michel SAPIN, Minister of Economy and Finance, on the occasion of COP22.

During their meeting, both Ministers welcomed the quality and the dynamic economic and political relations linking Morocco and France. Mr. SAPIN supported the similarity of opinion on green finance between France and Morocco. He stressed namely the complementary relationship between public and private financial operators in fighting climate change.

For the first time, the Kingdom of Morocco preferred to involve the finance ministers in the COP. A meeting that focused on climate change issues for finance ministers was organized November 16th.

This Moroccan initiative followed the France organization of COP21 in 2015, which was the result of the finance ministers’ meeting organized October 15th in Lima by Mr. SAPIN and his Peruvian counterpart. Mr. Michel SAPIN welcomed the Moroccan initiative to gather the finance ministers during the COP and expressed the wish that “finance ministers regularly participate at the implementation of the Paris agreement, in order to meet the ambitious objective of making the whole financial flows well-suited with a lower greenhouse gas emission and climate-resilient development.”

This event was also an opportunity to support the completion of the services of the (TGV) between Tangier and Casablanca. Mr. BOUSSAID and Mr. SAPIN signed a financial protocol of 70 million euros directed to finance the intellectual services of the (TGV) project. This protocol is part of the threefold financial, technical and technological cooperation set between Morocco and France on this program within the framework of the agreement protocol signed, October 22nd 2007 between France and Morocco.

Mr. BOUSSAID recalled the exceptional nature of the cooperation relations in many domains between Morocco and France and welcomed the signing of the financial protocol that makes the necessary financial assistance at the disposal of the ONCF (the National Railways Office) so as to achieve the (TGV) project.

Mr. SAPIN stressed, therefore, the importance and the quality of the franco-moroccan cooperation on this program which involves many French enterprises and recalled that the Morocco (TGV) is a key program of our bilateral relation, that benefits from a French unique financial support and mobilizing various financial tools (Treasury loan, a donation from FASEP “the Fund of Aid to the Private Sector” and a loan from the French Agency for development.

​ Both Ministers finally reiterated their common wish to consolidate and reinforce the bilateral cooperation links in various fields of common interest.