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France Pledges Support for Morocco’s 2030 World Cup Preparations
Thursday 31 October 2024, by
On the sidelines of the state visit of French President Emmanuel Macron, several agreements were signed on Tuesday during a business meeting at the International University of Rabat (UIR). One of them concerns support from the French Development Agency (AFD) for the development plan of the Casablanca-Settat region, in preparation for the 2030 World Cup.
The highlight of this event is the signing of several cooperation agreements, touching on key sectors of the economy and development, which aim to strengthen bilateral relations, anticipating strategic future projects. The institutional agreements include two letters of intent from the French Development Agency (AFD): one for a loan of 25 million euros for the benefit of Guelmim-Oued Noun, represented by Mbarka Bouaida, and the other for financing of 100 million euros to prepare Casablanca-Settat to host the 2030 World Cup.
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This support comes in addition to the efforts made by the Casablanca-Settat region. In the meantime, the city of Casablanca has planned to auction off several of its real estate properties, including villas, in order to use the amounts from these sales to cover part of the costs related to the preparations for the Africa Cup of Nations (CAN 2025) and the 2030 World Cup.
Other agreements signed in Rabat: a memorandum of understanding between the Moroccan Capital Market Authority and the Autorité des Marchés Financiers, a partnership between Bpifrance and Attijariwafa bank and a cooperation agreement between the French Chamber of Commerce and Industry of Morocco and Bank of Africa for the development of French investments in Morocco and Africa, a memorandum of understanding between Suez and Safari for the marketing of products and solutions for Regional Multi-Service Companies, a partnership agreement between Électriciens Sans Frontières and Morocco Future Energy Leaders for access to electricity for vulnerable populations, etc.