Project Notice |
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| PNR | 68275 |
| Project Name | ONCF Green Bond |
| Project Detail | Location: Morocco Project number: 56059 Business sector: Transport Notice type: State Environmental category: B Approval date: 29 Jan 2025 Status: Signed English-language PSD published: 11 Feb 2025 Provision of an investment of up to MAD 400mn (EUR 38.4mn) to the Office National des Chemins de Fer (ONCF), Moroccos national integrated railway company. The investment will entail the Banks subscription to a local currency senior secured Green Bond issued by ONCF for up to MAD 2 billion (c. EUR 192mn) through a public placement. The Bond will be aligned with the Land Transport Criteria of the Climate Bonds Standard as verified by a Second Party Opinion (SPO) and certified by the Climate Bonds Standard Board. Project Objectives The Bond proceeds will be used to refinance a portion of ONCFs local outstanding commercial debt related to a series of prior investments targeting low carbon sustainable connectivity. The Banks participation in Tranche A will be used to refinance debt linked to two projects under ONCFs investment programme: (i) the capacity increase through the construction of additional passenger and freight rail lines between the cities of Casablanca and Kenitra, and (ii) the acquisition and upgrade of electrified rolling stock. The investment will result in overall capital market development through supporting the second Green Bond in the sustainable infrastructure sector in Morocco. |
| Funded By | European Bank for Reconstruction and Development (EBRD) |
| Sector | Transportation |
| Country | Morocco , Northern Africa |
| Project Value | MAD 2,000,000,000 |
Contact Information |
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| Company Name | OFFICE NATIONAL DES CHEMINS DE FER |
| Web Site | https://www.ebrd.com/work-with-us/projects/psd/56059.html |
