| Work Detail |
This investment builds on the existing strong partnership between the EBRD and ONCF, which began with Morocco’s first infrastructure sector green bond issue in 2022 The European Bank for Reconstruction and Development’s (EBRD) green bond aiming to reduce the billion into 110 Moroccan projects carbon footprint of transportation in Morocco is the motivation behind nominating this finance project to the 10th African Power & Energy Elites: Projects and People magazine (fondly known as The Elites.) The EBRD is investing up to MAD400 million (€38,4 million) in a green bond issued by the Moroccan National railway operator, ONCF (L’Office National des Chemins de Fer). This investment aims to refinance debt related to ONCF’s modernisation and electrification projects, supporting its green transition and promoting sustainable transportation. It follows a previous successful green bond investment by the EBRD in ONCF in 2022, marking a continued commitment to Moroccan infrastructure development and green finance. The bond will be aligned with Climate Bond Standards and include a guarantee from TAMWILCOM, the state guarantee and business financing provider. This investment aims to refinance debt related to ONCF’s modernisation and electrification projects, supporting its green transition and promoting sustainable transportation. It follows a previous successful green bond investment by the EBRD in ONCF in 2022, marking a continued commitment to Moroccan infrastructure development and green finance. The bond will be aligned with Climate Bond Standards and include a guarantee from TAMWILCOM, the state guarantee and business financing provider. EBRD Investment And Purpose The EBRD is investing significantly in ONCF’s second green bond issue. The investment amount is up to MAD400 million (€38,4 million) out of a total MAD2 billion (€192 million) green bond. The primary purpose of the bond is to partially refinance debt incurred during ONCF’s latest development round. This development round focuses on: Modernising and electrifying the railway network. Acquiring and upgrading electric rolling stock. Addressing safety units and substations. Developing and integrating transport planning systems. The projects refinanced by the bond will support ONCF’s transition to electric power, improve energy efficiency, and lower greenhouse gas emissions. The objective is to promote a shift to a more environmentally friendly form of transport. |
