PROJECT

Projects

Summary of Investment Information

Project Number

42982

Company Name

REGION FES MEKNES

Date SPI Disclosed

Jun 26, 2020

Country

Morocco

Region

Africa

Projected Board Date

Aug 7, 2020

Environmental Category

B - Limited

Status

Active

Last Updated Date

Sep 30, 2022

Department

Regional Industry - INF Africa

Industry

Infrastructure

Previous Events

Approved : Jul 31, 2020
Signed : Dec 17, 2020
Invested : Jun 21, 2022

Sector

Municipal Finance - Transport and Roads [Project only]

Project Description

 The Project consists of USD 35 million loan to support the priority investment program of the Region of Fes Meknes, one of Morocco’s twelve administrative regions. Proceeds of the loan will be used to fund two components: the first component related to financing COVID-19 expenditures including purchases of disinfection and sterilization equipment and the second component consists of financing regional rural roads targeting underprivileged populations in remote areas.                                                   

Associated Advisory Engagement

 IFC will support the Region through advisory services under the MENA’s Cities Platform. In particular, IFC will (i) help the Region to implement the rural roads component in compliance with international environmental and social standard and (ii) develop a road maintenance strategy to ensure that existing and newly constructed rural road assets are sustainably managed, while long-term road maintenance and rehabilitation cost are reduced.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation