ONCF Green Bond

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Building a Greener Future for Africa.

How Morocco’s pioneering green bond and
renewable energy transition are reshaping Africa’s railways.

Tonnes of CO2 reduced yearly

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Million tonnes of CO2 reduction over 30 years

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Renewable energy by 2030

The ONCF Green Bond Journey

From Renewable Energy to High-Speed Rail

With the Kingdom of Morocco’s commitment to renewable energy, ONCF’s green bond marks a key step toward sustainable infrastructure. FSD Africa, CDG Capital, and the EBRD united to support ONCF’s vision, pioneering Africa’s first high-speed railway powered by wind. Together, we are setting new standards for green finance and climate resilience in the region.

Story of the Green Bond issuance

A Commitment to Sustainability

Morocco’s climate resilience and renewable energy goals set the stage for the country’s first green bond in infrastructure.

Building the High-Speed Rail

Supported by CDG Capital and FSD Africa, ONCF constructed a high-speed line from Tangier to Marrakech, a model for eco-friendly mobility in Africa.

Scaling Green Finance

With FSD Africa’s help, ONCF structured a green bond to attract local and international investment, marking a new chapter in green finance.

Sustainable Impact

ONCF’s wind-powered high-speed trains now operate daily, demonstrating a commitment to Morocco’s clean energy transition.

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Key impact metrics

121,000 tonnes of CO2 reduced yearly

Equivalent to planting 4 million trees, ONCF’s green bond-funded railway reduces emissions and brings sustainable transportation to life.

2.5 million tonnes of CO2 reduction over 30 years

By transitioning to clean energy, ONCF is making sustainable travel accessible, reducing the carbon footprint of thousands.

52% renewable energy by 2030

Morocco’s energy transition goal aligns with ONCF’s vision, marking Morocco as a leader in Africa’s renewable energy movement.

Voices behind the change

Inspiring change through finance

Discover insights from visionary partners championing Morocco’s transition to a sustainable future. These testimonials highlight the power of green finance in creating impactful change, from fostering resilience to pioneering sustainable infrastructure across Africa.

Through this green bond, we’ve combined finance with impact, scaling green investment opportunities across Morocco and beyond.

Hicham Machmoumi Head of Development and Financing, ONCF

Green finance creates more than monetary value—it unlocks opportunity and aligns with our mission to drive resilience.

Saad Lamzabi Corporate Finance Director, CDG Capital

ONCF’s bond opened the doors to new investment models in Africa’s green economy, setting the bar for sustainable infrastructure.

Sue Barrett Director, Sustainable Infrastructure, EBRD