Highlights

The Minister of Economy and Finance headed the signing ceremony of an agreement in the presence of the French Minister for Europe and Foreign Affairs : 09/10/2017

The Minister of Economy and Finance headed the signing ceremony of an agreement in the presence of the French Minister for Europe and Foreign Affairs

Mr. Mohammed BOUSSAID, Minister of Economy and Finance, and Mr. Jean-Yves LE DRIAN, French Minister for Europe and Foreign Affairs, signed , Monday, October 09th 2017, a loan agreement of the French Development Agency (AFD) amounting to 80 million euros.

This loan agreement, signed by the Moroccan National Railways (ONCF) and the (AFD), will provide the funding to cover the cost of the high-speed line project (LGV) Tanger-Casablanca.

This event was attended by Mr. Jean-François Girault, Ambassador of France in Morocco, Mr. Mohammed Rabie Khlie, Director General of the (ONCF), and MR. Eric Baulard, Director of the French Development Agency (AFD) in Morocco.

In his speech during this event, Mr. BOUSSAID stated that this contribution brings the (AFD)’s total allocation to more than 300 million Euros and that of France to a billion euros, that is more than 50% of this project funding. He stressed in this regard the importance of the (LGV) project, asserting that this project is strongly supported by His Majesty the King Mohammed VI and represents one of the key achievements of the bilateral relation between Morocco and France. The Minister noted that the project in question took part within the framework of the establishment of regional development hubs, ensuring a modern and high speed link between the Casablanca Hub and the Tangier new Hub.

On the other hand, the French Minister for Europe and Foreign Affairs stated that the (LGV) project is the outcome of a partnership based on trust between Morocco and France and on funds provided by various French actors, which reached almost 50% of the financing needs.

For Mr. LE DRIAN, this contribution is a sign of collaboration and a will to join action on equipment that is crucial for the future of Morocco.

The French Minister for Europe and Foreign Affairs was also pleased with the signing of this agreement, which he believes, puts an end to a set of financing packages and which clearly reflects the nature of the Moroccan-French relations.

Mr. Mohamed Rabie Khlie, Director General of the (ONCF), reassured, in turn, that the (LGV) project is being achieved, stating that infrastructure, rails and power cables works have been completed.

Mr. Khlie also indicated that before the end of the current year the entire work, including the signals system, will be completed, while the first four months of 2018 will be devoted to the (LGV) system testing in order to prepare its approval.