Significant Investment by EBRD in Casablanca-Settat
The European Bank for Reconstruction and Development (EBRD) has made a substantial investment of 400 million dirhams in a groundbreaking bond issuance of 1 billion dirhams by the Casablanca-Settat region. This investment is aimed at bolstering the ambitious 2022-2027 Regional Development Plan for the area, while simultaneously enhancing the diversity of funding sources by tapping into the debt capital market. This bond issuance is noteworthy as it is only the second of its kind in Morocco and the first to be issued at the regional level, signaling a pivotal moment for the country’s municipal bond market.
The funds raised through this bond will not only facilitate the execution of the regional development plan but will also allow the Casablanca-Settat region to integrate into the EBRD’s Green Cities programme. This initiative will lead to the creation of a Green City Action Plan (GCAP) and the initiation of a pilot mobility planning project aimed at encouraging sustainable and inclusive transport solutions within the region. This strategic move reflects a commitment to fostering greener urban environments and enhancing public transport infrastructure.
Moreover, the EBRD’s investment is supplemented by a technical cooperation package worth €2 million (approximately 21 million dirhams), which includes valuable support from the Netherlands under the High-Impact Partnership on Climate Action (HIPCA). This package is designed to improve the financial and operational performance of the region and includes a framework for digital transformation, thereby ensuring that the region is equipped to meet modern demands and challenges.
Haytham Eissa, the head of EBRD Morocco, emphasized that this investment marks a significant advancement for local capital markets and sustainable urban finance. Meanwhile, Abdellatif Maâzouz, the regional president of Casablanca-Settat, characterized the bond issuance as an innovative financing source that aligns with national strategic orientations and showcases the confidence investors have in the region's restructured debt portfolio.
As reported by en.yabiladi.com.
