Tetouan – The European Bank for Reconstruction and Development has invested MAD 400 million in a landmark bond issued by the Casablanca-Settat region, marking the first time a Moroccan region has tapped capital markets through a public bond offering.
The issuance, valued at MAD 1 billion and denominated in Moroccan dirhams, was carried out on the domestic market to finance key infrastructure and development projects under the region’s 2022–2027 development plan.
It reflects a broader strategy to diversify funding sources by complementing traditional financing channels with market-based instruments.
Beyond its financial dimension, the operation carries strategic significance. The EBRD’s participation enables Casablanca-Settat to join the bank’s Green Cities programme, a flagship initiative designed to support cities and regions in addressing pressing environmental challenges.
As part of this framework, the region is set to develop a comprehensive green action plan alongside a pilot mobility strategy aimed at promoting cleaner, smarter and more inclusive transport systems.
The investment is accompanied by a EUR 2 million technical cooperation package, supported in part by the Netherlands through the High-Impact Partnership on Climate Action.
This funding will contribute to the design of the green action plan, as well as efforts to strengthen the region’s financial and operational performance.
Planned reforms include a digital transformation framework and the deployment of an integrated management system to improve governance and efficiency.
According to EBRD Morocco Director Haytham Eissa, the transaction represents more than a financing milestone.
It signals progress in developing Morocco’s capital markets and enhancing the credibility of regional and municipal borrowers.
By supporting both the bond issuance and the region’s participation in the Green Cities programme, the bank aims to mobilize sustainable investment while reinforcing investor confidence.
For Abdellatif Maâzouz, president of the regional council, the bond marks a shift toward more innovative financing aligned with national priorities.
He highlighted that the operation reflects market confidence in the region’s development model, particularly its focus on sustainable and inclusive growth.
The issuance also follows efforts to streamline and reduce regional debt, strengthening the region’s financial standing and its ability to attract funding.
As Morocco’s economic hub, accounting for more than 30% of national GDP, Casablanca-Settat plays a central role in the country’s industrial output, exports and investment flows.
With this first regional bond issuance, it positions itself at the forefront of financial innovation, while placing climate resilience, sustainable mobility, digitalization and territorial inclusion at the core of its development agenda.
