(Ecofin Agency) - The European Investment Bank (EIB) plans to lend Morocco €60 million (about 655 million dirham) to co-finance, with the government, a project to develop Casablanca’s second tramway line.

The funds will be poured into the construction of the East-West liaison, between Anoual and Aïn Sebaâ, which will extend over 15 km, but also to expand the first line which goes to Lissafa by 2 km, Le Matin reported, cited by Telquel.ma.

The project is part of a development program for the Grand Casablanca region which should benefit Al Fida, Hay Mohammadi and Aïn Sebaâ.

Up till 2015, the EIB has granted €6.7 billion to finance projects in key sectors of Morocco’s economy such as energy, transport, water and sanitization, education, health, social housing, industry, SMEs and innovation.

Alain Okpeitcha