Morocco gets $316m loan for airport upgrades
The African Development Bank (AfDB) is lending Morocco funds to complete its airport expansion work ahead of the 2030 FIFA World Cup.
The bank will lend €270 million ($316 million), which will increase the operational capacity of the kingdom’s airports by upgrading infrastructure and expanding the air navigation system, the state-run MAP news agency reported.
The modernisation initiative is being undertaken at Marrakech, Agadir, Tangier and Fez airports, including the expansion of terminals, the construction of a new control tower in Marrakech, the development of 1.5 million square meters of aircraft parking areas and 7.6 km of taxiways.
“Developing Morocco as a destination and strengthening its logistical competitiveness in preparation for a global event such as the World Cup remains our strategic priority,” said AfDB country office manager in Morocco Achraf Hassan Tarsim.
The modernisation plan will increase passenger capacity for Marrakech airport to 14 million, followed by Agadir (5 million), Tangier (3 million) and Fez (3 million).
In August the Moroccan Airports Authority awarded contracts worth MAD4.4 billion ($440 million) to two local companies, Jet Contractors and SGTM, to expand the Marrakech-Menara and Agadir-Al Massira airports.
In July, the government allocated MAD38 billion to develop airport infrastructure to support economic growth. It has set a target of 17.5 million annual visitors by 2026, increasing to 26 million by 2030, when the country co-hosts the World Cup with Spain and Portugal.
You May Also Like
XRP Price Prediction: Can Ripple Rally Past $2 Before the End of 2025?
DMCC and Crypto.com Partner to Explore Blockchain Infrastructure for Physical Commodities
