Morocco-EBRD cooperation: Mobilization of € 300 million for the benefit of ONDA, ADM, and ONEE
01/09/2020
Mr. Mohamed BENCHAABOUN, Minister of the Economy, Finance and the Reform of the Administration, proceeded, on Tuesday September 01, 2020, to the signing of three guarantee agreements relating to loans, granted by the European Bank for Reconstruction and Development (BERD), for the benefit of the National Airports Office (ONDA), the Société Nationale des Autoroutes du Maroc (ADM) and the National Office for Electricity and Potable Water (ONEE) for a total amount of € 300 million.
This
cooperation action with the EBRD is part of the efforts undertaken by the
Ministry of the Economy, Finance and Administrative Reform to support Public
Enterprises and Establishments (EEP) to cope with the effects of the crisis
induced by COVID-19. In this context, the DTFE supported these three companies
in the mobilization and negotiation of the aforementioned financing.
The
EBRD's support also includes technical assistance within the framework of the
program to modernize and consolidate governance of PECs. During a
videoconference, Mr. Mohamed BENCHAABOUN and Mr. Alain PILLOUX, Vice-President
of the EBRD, praised the quality of cooperation relations between Morocco and
the EBRD. The Minister called on the EBRD to broaden its support for other PEA
affected by the pandemic and to strengthen the Bank's action in favor of the
private sector to support the recovery.
The
EBRD Vice-President said on the occasion : "We are delighted to provide
liquidity to public enterprises to support Morocco during this unprecedented
crisis. The reform program that the Moroccan government intends to pursue, with
the support in particular from the EBRD, should contribute in the future to
strengthening the resilience of public enterprises and guaranteeing the
continuity of quality services to the Moroccan population. "
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