World Bank Agency Backs $570 Million Loan for New Moroccan University Campus

The agreement covers a maximum amount of 570 million euros, the group’s press release indicates, specifying that this guarantee extends to 10 years and thus covers the risk of non-compliance with the sovereign financial obligations of a state-owned company.

These funds will be used to build a new campus of the Mohammed VI Polytechnic University (UM6P) in Rabat, the first phase of which was launched in October 2021. Two new phases will be completed by 2024, the note emphasizes.

For the mining group, this is a first in the education sector in Morocco and Africa. The new campus will provide high-level training to nearly 2,000 students in the fields of economics, governance, political science, international relations, behavioral and social sciences, hospitality and management.

The institution will also have a new faculty of governance and will host Morocco’s first artificial intelligence school and business incubator. Multi-sports centers, digital learning labs, a language center are also planned.