Mrs. Nadia FETTAH, Minister of Economy and Finance, co-chaired, Wednesday February 26, 2025, in Rabat, alongside His Excellency Mr. Yeonjean Yoon, Ambassador of the Republic of Korea to Morocco, the signing ceremony of a Financing Protocol between the Government of the Kingdom of Morocco and the Government of the Republic of Korea for the financing of a rolling stock acquisition project for the Office National des Chemins de Fer (ONCF).
In particular, the Financing Memorandum provides for the mobilization of a financing on highly concessional terms from the Korea Economic Cooperation Development Fund (EDCF) of the Export-Import Bank of Korea (KEXIMBANK).
On this occasion, Mrs. FETTAH emphasized that the signing of the Financing Memorandum represents a major step in the consolidation of economic and financial cooperation relations between Morocco and Korea, while opening up new prospects for cooperation within the framework of a shared vision of sustainable and inclusive development.
During the same ceremony, Mr. Mohamed Rabie khlie, General Manager of ONCF, and Mr. Hee-sung Yoon, CEO of KEXIMBANK, signed a loan agreement to finance the acquisition of 110 RER Trains from Korean suppliers, as part of Morocco's efforts, under the enlightened leadership of His Majesty King Mohammed VI, May God Assist Him, to modernize and extend the national rail network.