Morocco and the African Development Bank Sign Two Financing Agreements Worth $464.77 Million

Rabat, Sept 17 (KUNA) -- Morocco and the African Development Bank signed two financing agreements worth a total of 405 million euros (464.77 million dollars) on Thursday to develop and modernize the railway sector's infrastructure and strengthen human capital.

The Moroccan News Agency reported that the first agreement, valued at 205 million euros (235.25 million dollars), aims to finance a project to support and develop railway infrastructure, particularly the extension of the high-speed line and the development of the rail axis between Kenitra and Marrakech, thereby improving mobility in Morocco.

The agency added that the second agreement, worth 200 million euros (229.52 million dollars), is intended to fund the "Cap Competences 2030" program, which is dedicated to financing the vocational training system, digitizing its services, and enhancing opportunities for youth and women to integrate into the labor market.

It is worth noting that the African Development Bank is a strategic development partner for Morocco, with its total financing to the country since 1978 exceeding 15 billion dollars, covering vital sectors including energy and infrastructure. (End) M.R.I / M.A.A