AfDB announces €650m financing plan for Morocco’s 2030 World Cup preparations

The African Development Bank (AfDB) has unveiled plans to support Morocco’s preparations for the 2030 FIFA World Cup with a €650 million financing package.

AfDB President Akinwumi Adesina announced the proposal Thursday following discussions with Morocco’s Head of Government, Aziz Akhannouch, emphasizing the institution’s commitment to bolstering Morocco’s infrastructure and competitiveness ahead of the global event.

“To support Morocco’s preparations for the 2030 World Cup, the AfDB will shortly be submitting for approval a €650 million financing project for the development of rail and airport infrastructure, thereby boosting Morocco’s competitiveness in the field,” Adesina stated.

Highlighting the robust partnership between the bank and Morocco, Adesina noted that Morocco is the AfDB’s leading partner, with an active portfolio of 37 projects worth $3.6 billion. These initiatives span key sectors, including energy, water, sanitation, and private enterprise.

“This year, the AfDB has approved $1.5 billion in financing for the Kingdom, reflecting the importance of this partnership,” Adesina added.

Beyond infrastructure, discussions also centered on addressing Morocco’s pressing challenges, particularly youth employment and skills development. The AfDB pledged its support to help Morocco tackle these issues, which are critical to ensuring sustainable growth.

Adesina expressed his gratitude to King Mohammed VI for his unwavering support of the AfDB, especially in hosting the Africa Investment Forum (AIF) in Rabat, which runs through December 6. The forum underscores Morocco’s strategic role in advancing investment and development across the African continent.