Charles Muchoki | Africa Guardian
The African Development Bank (AfDB) has pledged significant financial support to Morocco, earmarking $1 billion to bolster its preparations for the 2030 FIFA World Cup. This includes a recently signed agreement for a €350 million ($370 million) loan to enhance economic governance, expand water supplies, and establish an industrial zone at the Nador West Med port, according to an AfDB statement.
The loan agreement was formalized during the AfDB’s Africa Investment Forum in Rabat.
In addition, the AfDB is considering an additional €650 million financing package to develop Morocco’s rail and airport infrastructure, crucial for hosting the 2030 World Cup alongside Spain and Portugal. Speaking at the forum, AfDB President Akinwumi Adesina highlighted the bank’s long-standing partnership with Morocco, noting its total investment of $3.6 billion across 37 projects in the country.
This support underscores the AfDB’s commitment to advancing infrastructure and economic development in Africa as Morocco prepares for its role on the global stage.
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