Morocco’s finance and business hub Casablanca Finance City (CFC) said on Monday it had raised 335 million dirhams ($ 35.8 mln) via a green bond to finance its environmentally friendly real estate programme.

CFC said it received the authorisation of bourse regulator AMMC for the 15-year bond.

“The issuance was completed through a private placement with the largest institutional investors of the Kingdom,” it said.

Morocco’s government began developing Casablanca Finance City in 2010 as a banking centre for Africa.

Financial companies, professional services firms and regional headquarters of multinationals can become members of the centre, receiving tax concessions and other benefits such as fast-track visa procedures for staff.

Source: Reuters