The French Development Agency has loaned 80 million euros to help complete a high-speed railway running from Tangiers to Casablanca.

"The signing of this funding will increase the contribution of the French Development Agency to more than 300 million euros and France's contribution to more than one billion euros, more than 50 percent of the projected budget for this project," Economy and Finance Minister Mohamed Bousaid said.

The rail project is a partnership between Morocco and France and is a result of increasing demand for passenger transportation.

Testing is under way to reach rail speeds of up to 320 kilometers per hour. Most work will be completed this year, with additional testing in early 2018.

The French Agency for Development granted the National Railways preliminary funding worth 220 million euros in 2011 for the project, according to a press release on the 2M website.