VISP - ONDA Stabilisation Facility (EBRD-52336)

  • 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
Bank Risk Rating
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 23, 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.
Office National des Aeroports
The holder of the loan, grant, or other investment.
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 169.69 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
Converted using 2020-06-23 exchange rate.
Loan Amount (USD)
$ 169.69 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 27, 2021

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 150 million in favour of Office National des Aeroports ("ONDA" 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
Private Actors Description

ONDA is the state operator and administrator for all airports and air navigation services. It manages a network of 25 airports and supervises Moroccan aerospace through two regional air traffic control centres in Casablanca and Agadir.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Office National des Aeroports Client -

Contact Information

M. Youssef Zemmama 


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