Announcement of Twenty-Five Million Loan for a Highway Project in Morocco on December 6, 1973

• 1818 H ,STREET. N.W .• WASHINGTON ',•r' D. C. 20433 TELEPHONE: EXECUTIVE 3.e3eo ·!Yank Press Release No. 73/78 s·ubj ect: $29 million loan for a December 6, 1973 highway project in Morocco The World Bank has approved a loan of $29 million to the Government of Morocco to help finance a project for highway construction and mainten- ance. The new project aims at the rehabilitation and moden~ization of important roads. It comprises the construction of part of the Casablanca- R&bat highway., the improvement of various road sections, the replace- ment of highway maintenance equip~ent, traffic studies and technical assistance. '!be project is a key element in the Govemment development plan fo·: road network. It supports the Bank's lending strategy through institution • building and by improving road transport for agricultural exports and tourism. Specific&lly, the project is designed to improve several roads, mostly in. the coastal plain, which carry high traffic.volumes, including a major part of agricultural exports and tourist traffic. The project also aims to improve maintenance administration and over- all transport and project planning through establishment of a Central Equipment Division within the Directorate of Roads and of a transportation planning offica in the Ministry of Public Works and Communications.• The total cost of the project is estimated at $43 million. The '.Loan would finance 67% of' these cQsts, which is equivalent to the estimated foreign exchange cCXDponent. The loan is for 20 years; i.ncluding 4 years of grace, with an interest rate of 7~% per:', annum. Note: Money figur~s are expressed in. US dollar equ1.;valents. - 0 - •  December 6, 1973 • TECHNICAL DATA PROJECT: Second Highway COUNTRY: The Kingdom of Morocco TOTAL CQ;T: $43 million BANK FINANCING: $29 million, 20 years including 4 years of grace, at 71a interest per annum. OTHER FINANCING: ' The Government of Mor.occo. IMPLEMENTING ORGANIZATION: The Ministry of Public Works and Communica- tions. PROJECT DESCRIPTION: The construction of part of the Casablanca-Babat highway, improvement of various road sections, purchases of highway maintenance equipment, traffic studies, and technical assistance. PROCURMENET: Contracts will be awarded after international competitive bidding. For the highway improvement works the whole three-year program will be advertised once with notification to local representa- • tives of Bank member countries and Switzerland, whereafter each specific lot or lots will be notified to all those who have expressed interest. CC6SULTANTS, TECHNICAL ASSISTANCE: Cons~ltants will be engaged for traffic studies in Casabl~ca and Rabat, and for technical assistance. Bureau Central d'~tudes pour les Equipements d'Outre-Mer (BCEOM) of France -and SAUTI of Italy are employed for the detailed engineering r,..tuclies of the Casablanca-Rabat expresway and the Kenitra-Larache road, wespectively. ESTIMATED COMPLETION DATE: 1976. Note: Money figures are expressed in US dollar equivalents. - 0 - •