Morocco - Results-Based Programme for Enhancing Regional Competitiveness in Morocco (PARACT-M) (AFDB-P-MA-K00-019)

Countries
  • Morocco
Where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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.
Voting Date
Dec 18, 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
  • Industry and Trade
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)
$ 228.18 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 @ AFDB website

Updated in EWS Sep 9, 2020


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Project Description

According to bank documnts, this operation's development objective is to enhance regional competitiveness in order to attract private investors and thus create new jobs.

The Results-Based Programme for Enhancing Regional Competitiveness in Morocco (PARACT-M) forms part of Pillar 1 of Morocco's 2017-2021 CSP "Support for Green Industrialization through SMEs and the Export Sector". It relates to a results-based financing (RBF), designed to support efforts by the Moroccan authorities to improve regional competitiveness so as to boost the industrial sector locally, attract more investors and create jobs. PARACT-M is a continuation of the Bank's intervention in Morocco to enhance the investment environment and strengthen the industrial fabric. Indeed, the Morocco Industrialization Acceleration Support Programme (PAAIM), a Bank programmatic budget support covering the periods 2017-2018 and 2019-2020, has already enabled accelerated structural reforms required for economic diversification through industrialization. Thus, while PAAIM was an excellent framework for intervention on public reforms, PARACT-M provides a specific and targeted response to the constraints on regional-level competitiveness in Morocco, as underscored in the Growth Diagnostic 2015, and more generally at the continental level under the Compact with Africa (CwA) initiative. PARACT-M is structured around two key components, namely: (i) improving the local investment incentives and environment and (ii) support for the competitiveness of the regional industrial fabric.

Investment Description
  • African Development Bank (AFDB)
Contact Information

KESSAB Ammar
a.kessab@afdb.org 

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.