Saiss and Garet water conservation project (EBRD-51223)

Countries
  • Morocco
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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
B
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.
Voting Date
Nov 27, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Morocco
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Water and Sanitation
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, etc.
Investment Amount (USD)
$ 164.27 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 150,000,000
Converted using 2019-09-25 exchange rate.
Project Cost (USD)
$ 383.30 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 350,000,000
Converted using 2019-09-25 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 2, 2020

Disclosed by Bank Sep 25, 2019


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Project Description

According to bank documents, the investment involves provision of a sovereign loan of up to EUR 150 million in favour of the Kingdom of Morocco to co-finance:

  1. the construction of key components of the Saiss water transfer network comprised of the main distribution pipeline as well as the primary and secondary distribution networks; and
  2. the rehabilitation and modernisation of the water distribution network and full conversion to drip-fed watering system in the Garet perimeter.

The Saiss II component is part of a staged programme to preserve the Saiss aquifer and promote sustainable water management within the Saiss plain. As part of this programme, the Bank has approved a sovereign loan of up to EUR 120 million and mobilized grant financing of EUR 30 million from the Green Climate Fund (GCF) to finance the construction of a 135 km (a 45 km section of the main transfer pipeline with a total length of 62 km outside the Saiss plain and a 90 km main distribution pipeline within the Saiss plain) water transfer pipeline from the M'Dez dam to the boundary of the Saiss perimeter.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Ahmed El Bouari
a.elbouari@agriculture.gov.ma
+212 530 10 31 77
+212 537 29 75 44
www.agriculture.gov.ma
Avenue Hassan II BP 607, Rabat, Maroc

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.