FEC Municipal Infrastructure FL (EIB-20160352)

Countries
  • Morocco
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Fonds D'EQuipement Communal
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 81.76 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 75 million
Converted using 2017-04-26 exchange rate.
Project Cost (USD)
$ 163.52 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 150 million
Converted using 2017-04-26 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Oct 4, 2016


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Project Description
The project involves the financing through a framework loan of a series of local investments in Morocco, notably in construction, rehabilitation and upgrading of urban infrastructure (e.g. souks, sport facilities, urban roads, public lighting), mobility (e.g. intermodal stations and park and ride) and the water and wastewater sectors. Some of these investments might be linked to energy efficiency (e.g. building renovation, street lighting) and renewable energy (e.g. solar photovoltaics). The overall environmental and social impact of the framework loan is expected to be positive, with improvements to the environment and citizens' quality of life, in particular with regard to the public transport system, urban road network, wastewater management and energy efficiency (EE) in buildings and public lighting. Furthermore the project is expected to contribute to climate action (e.g. sustainable transport and EE measures).The nature of the works may cause some disruption during construction such as traffic, noise and dust which can be largely mitigated, but there should be no adverse impact on the environment during the operational phase.
Investment Description
  • European Investment Bank (EIB)
Contact Information
ACCOUNTABILITY MECHANISM OF EIB The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form, via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces