The Moroccan government is intensifying its efforts to secure the necessary funding for the development of the Atlantic Ocean-based Gazoduc Africa (GAA) gas pipeline, which is being built in partnership with Nigeria. In a bid to raise $26 billion from the Export-Import Bank of the United States and the World Bank, Rabat has been actively engaging with international financial institutions.
The Moroccan ambassador to the US, Youssef Amrani, recently expressed his country’s commitment to the project, which aims to increase gas exports between Morocco and Nigeria. The partnership is seen as a significant step towards boosting economic ties between the two nations.
A key component of the agreement is the provision of $10 billion in financing from the World Bank, while the US Exim Bank has agreed to provide an additional $16 billion. This investment will enable the construction of the pipeline, which is expected to begin soon.
When asked about the significance of this project, Ambassador Amrani highlighted its potential impact on regional energy security and economic growth. ‘The Gazoduc Africa pipeline is a game-changer for Morocco and Nigeria,’ he stated.
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