Morocco’s ONCF Secures $200M Green Bond

Key Figures & Findings:
Morocco’s national railway operator, ONCF, has successfully raised $200 million through a green bond issuance aimed at financing its rail network expansion. The bond offering was met with strong investor interest, being five times oversubscribed with total demand reaching $1 billion. ONCF, known for operating 90% of its trains on wind energy, continues to push forward Morocco’s sustainability agenda by reducing emissions in the transport sector.

Statistics & Insights:
The green bond was issued in four tranches with maturities ranging from 10 to 15 years, offering interest rates between 2.9% and 4.4%. Morocco’s rail expansion plan targets increasing its network coverage from 23 to 43 cities, potentially benefiting 87% of the population.

Future Implications:
If fully implemented, the project will enhance Morocco’s sustainable transport infrastructure, reduce carbon emissions, and improve regional connectivity. The ONCF’s investment aligns with Morocco’s goal of a greener, more efficient transport system.

Source: North Africa Post