RGON Facility (IFC-45262)

Countries
  • Morocco
Geographic location where the impacts of the investment may be experienced.
Specific Location
Region of Guelmim-Oued Noun, Kingdom of Morocco.
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 20, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
CONSEIL REGIONAL DE GUELMIM OUED NOUN
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 19, 2024

Disclosed by Bank May 16, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, the proposed investment consists of up to US$40 million loan or its equivalent in Euros to Region Guelmim-Oued Noun (RGON), one of the 12 Regions of Morocco, to support and co-finance capital expenditure projects included in its current and previous Regional Development Programs (RDP) (the Project).

IFC is supporting the Region through advisory services. These include assistance with (i) E&S assessment of upgrade works at the ports of Tan Tan and Sidi Ifni, (ii) development of an Environmental and Social Management Framework (ESMF) aiming to establish principles, guidelines and procedures for screening, assessing and managing the potential E&S impacts, and (iii) other selected activities to support the Region in terms of sharing knowledge about infrastructure development.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

IFC’s financing consists of up to US$40 million or its equivalent in Euros for IFC’s own account. The proceed of the loan will partially fund capital expenditure projects included in the Region’s RDP.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Conseil Régional Guelmim Oued Noun
ABDELADIM Omar
DIRECTEUR GÉNÉRAL DES SERVICES
+212618536603
abeladim.omar@gmail.com 
AVENUE MOHAMED VI BP 376 GUELMIM

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org 

How it works

How it works