Signing of legal documents relating to KFW financial contribution : 29/03/2013

Signing of legal documents relating to KFW financial contribution

Mr. Nizar Baraka, Minister of Economy and Finance, headed at the headquarters of his department, Wednesday, March 27th, 2013, the signing ceremony of the agreement on financial cooperation from 2012 to 2013 covering an overall amount of 133 million euros and loan guarantee contracts under which the KFW, German development institution, was made available to the National electricity and drinking water (ONEE) funding totaling 180.2 million euros.   

The signing ceremony was attended by His Excellency the Ambassador of the Federal Republic of Germany Mr. Michael WITTER and Mrs. Silke STADTMANN, Director of KFW Office in Rabat.

The Minister of Economy and Finance expressed Moroc co`s satisfaction with Germany`s financial support and which is characterized by its regularity, its efficiency, its diversity and its focus on priority areas for the development of our country.

Mr. BARAKA was pleased with this Agreement, which will enable the implementation of programs and projects within the framework of the Government`s priority sectors, particularly in the areas of Environment and Renewable Energy (116, 0 million) and water resources management (12.5 million euros).

Meanwhile, the Ambassador of the Federal Republic of Germany expressed his country`s interest in Morocco`s financial cooperation, described as exemplary, and noted within this framework, that Morocco occupies a special place among the partners of Germany. Both sides welcomed the level and quality of financial cooperation between Morocco and Germany and reaffirmed their shared commitment to work towards the consolidation of these relationships by supporting all efforts to make this cooperation even more effective. At this occasion, the Minister of Economy and Finance signed with the Director of KFW collateral agreements for financing the ONEE projects which are also part of the strategic orientations of Morocco`s government policy , and which focuses on Energy and Water sectors, namely:

  • Drinking water supply of the city of Taroudant (21 million euros).
  • National Sanitation program (38 million euros).
  • Performance Improvement Program in drinking water supply (40 million euros).
  • Small centers III sanitation phase 3 (11.2 million euros).
  • Programme of low consumption lamps (20 million euros).
  • Taza wind farm (50 million euros).