Morocco’s Casablanca-Settat region and the International Finance Corporation (IFC) inked on Thursday a $100 million financing agreement for the construction of two new tramway lines in Casablanca and other infrastructure projects. The funding deal was signed by Mustapha Bakkoury, President of the Regional Council of Casablanca-Settat region, Nabil Belabid, Director General of Casa Transports and Sérgio Pimenta, IFC Vice-President for the Middle East and Africa. IFC’s loan will enable the Casablanca-Settat region to expand tram service by building two new lines. The expansion will add 39 stop stations and 26 kilometers of track to the existing tramway network and reduce travel times by up to 40 percent. IFC’s support will also help the Region upgrade several hundred kilometers of rural roads in remote rural communities, connecting some 400,000 people to schools, hospitals, and other services.

Source: The North Africa Journal January 24, 2020 00:33 UTC