Morocco Disaster Risk Management Development Policy Loan with a Catastrophe Deferred Drawdown Option (WB-P168580)

Countries
  • Morocco
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
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
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
Mar 26, 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
  • Climate and Environment
  • Law and Government
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)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Dec 4, 2018

Disclosed by Bank Oct 9, 2018


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Project Description

According to bank documents, the objective of the proposed operation is to support the Government of Morocco in (a) strengthening the country’s fiscal capacity to manage the negative impact of disasters and climate-related risks and (b) strengthening the disaster risk management institutional framework in Morocco.

The proposed operation will support the government in further embedding Disaster Risk Management and Climate Change Adaptation in its various institutions. It is articulated around two pillars: Pillar A is geared towards enhancing the Government’sfiscal capacity to respond to natural disasters and climate change, through a series of reforms aimed at strengthening the FSEC’ financial, governance, and operational sustainability. As Law 110-14 is about to be implemented, it is now critical to equip the FSEC with tools, processes and liquidity mechanisms to meet its legal obligations as well as cover the GoM contingent fiscal liability in case of disasters. Pillar B promotes the overall strengthening of the DRM institutional framework in Morocco, by supporting the GoM in creating a dedicated DRM Directorate, strengthening disaster risk information systems, and establishing a strategy for the rehabilitation and retrofitting of school infrastructure in the education sector. Specifically, this pillar represents efforts by the government to capitalize on Morocco’s long-term efforts of articulating its national DRM strategy, and engaging in short- and longterm DRM planning that would help the country achieve some of the international Sendai Framework for Disaster Risk Reduction recommendations.

Investment Description
  • World Bank (WB)
Contact Information

World Bank:
Augustin Maria, Oscar Anil Ishizawa Escudero
Senior Urban Development Specialist

Borrower:
Ministry of Economy and Finance
Nouaman Al Aissami
Directeur adjoint du tresor
n.alaissami@tresor.finances.gov.ma

Implementing Agency:
Ministry of Economy and Finance
Nouaman Al Aissami
Directeur adjoint du tresor
n.alaissami@tresor.finances.gov.ma

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.