VISP - ADM Stabilisation Facility (EBRD-52335)

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
Jul 22, 2020
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
Autoroutes du Maroc
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Transport
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)
$ 112.78 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 100
Converted using 2020-06-22 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 25, 2020

Disclosed by Bank Jun 22, 2020


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Project Description

According to bank provided information, the project involves provision of a sovereign guaranteed loan of up to EUR 100 million in favour of Autoroutes du Maroc ("ADM" or "the Company") to address the urgent need for liquidity support of the Company, a Moroccan State-Owned Enterprise (SOE) providing vital infrastructure services, following the unprecedented economic impacts of the COVID-19 crisis. The proposed transaction is in line with the Vital Infrastructure Support Programme (VISP) under the Bank's COVID-19 Solidarity Package.

The goal of the Project is to help this SOE meet short-term obligations in order to enable essential operations and services to continue uninterrupted despite the financial stress of the COVID-19 crisis.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

ADM is Morocco's national motorway operator that develops and manages the country's motorway network of more than 1,800 km.

Contact Information

M. Amjad Hebbazi
hebbazi.amjad@adm.co.ma 

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.