(Ecofin Agency) - The International Finance Corporation (IFC) plans to grant Morocco $100 million for the construction of two tramway lines (lines 3 and 4) and rural roads in Casablanca-Settat region. The loan deal will be signed come January 23, sources said.

Work for the lines will be conducted by local company Casa Transports, which specializes in infrastructure and urban transport works. This project requires an investment of MAD7 billion ($728.3 million) and the government plans to mobilize the remaining amount from private and public financial institutions. The infrastructures are expected to be commissioned by 2022.

As a reminder, for the construction of the tramway line 2, the French Development Agency had provided Morocco with €30 million in loans and €500,000 as grant. 

Chamberline Moko