BAKU, Azerbaijan, February 11. The European Bank for Reconstruction and Development (EBRD) is investing up to 38.4 million euros in Morocco’s railway sector as part of a 192 million euro green bond issued by the Office National des Chemins de Fer du Maroc (ONCF), Trend reports.
The bond, which aligns with Climate Bond Standards, will help refinance ONCF’s recent development projects, including network electrification, rolling stock upgrades, and transport planning improvements. It is backed by a guarantee from Tamwilcom, Morocco’s state financing provider.
Beyond funding, the EBRD will support ONCF in adopting International Financial Reporting Standards (IFRS) and developing sustainability-linked financial products.
“The EBRD’s participation reaffirms our commitment to Morocco’s sustainable railway growth and capital market development,” said Sue Barrett, EBRD’s Director for EMEA Infrastructure.
ONCF CEO Mohamed Rabie Khlie highlighted the bond’s success as a testament to Morocco’s commitment to low-carbon transport solutions.
The investment strengthens the EBRD-ONCF partnership, which began in 2022 with Morocco’s first infrastructure green bond, setting the stage for future sustainable transport initiatives.