Morocco - Second Sewerage and Water Re-use Project

Document of The World Bank FOR oMCIAL USE ONLY Report No. P-6846-MOR MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN IN AMOUNT EQUIVALENT TO US$40.0 MILLION TO THE WATER, ELECTRICITY AND SEWERAGE REGIE OF FES (RADEEF) WITH THE GUARANTEE OF THE KINGDOM OF MOROCCO FOR A SECOND SEWERAGE AND WATER RE-USE PROJECT March 29, 1996 This Document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization. CURRENCY EQUIVALENT (as of January 1996) Currency Unit - Moroccan Dirham (DH) - 100 centimes US$1.00 - DH 9.0 DH1.00 - US$0.1111 DH1,000,000 - US$11,111 MEASURES AND EQUIVALENTS 1 millimeter (mm) - 0.04 inches 1 meter (m) - 3.28 feet 1 kilometer (km) - 0.62 miles 1 square meter (m2) - 10.8 square feet 1 hectare (ha) - 2.47 acres 1 square kilometer (km2) - 0.368 square miles 1 liter (1) - 0.264 US gallons I cubic meter (m3) - 264 US gallons 1 cubic meter per second (m3/s) - 35.4 cubic feet per second 1 liter per capita per day (lcd) - 0.264 US gallons per capita per day 1 liter per second (Us) - 0.035 cubic feet per second PRINCIPAL ABBREVIATIONS AND ACRONYMS USED ADB - African Development Bank CFD - Caisse Franqaise de D6veloppement CIRF - Centre Inter-R6gies de Formation CLs - Collectivit6s Locales CSE - Conseil Sup6rieur de l'Eau et du Climat DEPP - Direction des Entreprises Publiques et Participations DGCL - Direction G6n6rale des Collectivit6s Locales DRSC - Direction des R6gies et Services Concdds EIB - European Investment Bank EU - European Union KfW - Kreditanstalt fir Wiederaufbau lcd - Liters per capita per day MARA - Ministbre de l'Agriculture et de la R6forme Agraire ME - Ministry of Environment MOF - Ministry of Finance MOI - Ministry of Interior MOPW - Ministry of Public Works MOPH - Ministry of Public Health O&M - Operation and Maintenance ONEP - Office National de l'Eau Potable RAD - R6gie Autonome Intercommunale de Distribution d'Eau et d'Electricit6 de Casablanca RADEEF - R6gie Autonome Intercommunale de Distribution d'Eau et d'Electricit6 de Fbs RADEEMA - R6gie Autonome Intercommunale de Distribution d'Eau et d'Electricit6 de Marrakech RAMSA - R6gie Autonome Multiservices d'Agadir TA - Technical Assistance USAID - United States Agency for International Development FISCAL YEAR January 1- December 31 FOR OFFICIAL USE ONLY KINGDOM OF MOROCCO SECOND SEWERAGE AND WATER RE-USE PROJECT Loan and Project Summary Borrower: The Water, Sewerage and Electricity Distribution R6gie of Fbs (RADEEF) Guarantor: The Kingdom of Morocco Amount: US$40.0 million equivalent. Termls: 20 years at the standard variable interest rate, including five years of grace Co-Lender (Parallel Financing): Caisse Frangaise de D6veloppement (CFD) Amount: US$23.6 million equivalent Foreign Exchange Risk: To be borne by RADEEF Financing Plan: IBRD - US$ 40.0 million CFD - US$ 23.6 million RADEEF - US$ 18.8 million Home Owners - US$ 14.6 million TOTAL US$ 97.0 million Economic Rate of Return: 11.5% Povry Category: Not applicable Staff Appraisal Report: Report No. 15433-MOR MQ: IBRD 26877 This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization. MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN TO THE WATER, ELECTRICITY AND SEWERAGE REGIE OF FES (RADEEF) FOR A SECOND SEWERAGE AND WATER RE-USE PROJECT 1. I submit for your approval the following memorandum and recommendation on a proposed loan in the amount of US$40.0 million to the Water, Electricity and Sewerage R6gie of F6s (RADEEF) to help finance a Second Sewerage and Water Re-Use Project. The loan would be at the Bank's standard variable interest rate, with a maturity of 20 years, including five years of grace. The loan would be guaranteed by the Kingdom of Morocco. The project would be co-financed by CFD. 2. Background. While Morocco has been successful in providing water supply to its urban population of about 14 million, rural water supply and sanitation have been developed on a very limited basis. The progressive urbanization of the rural population is slow but constant and is exacerbating the need for sewerage infrastructure. Water service is currently provided to 76% of the inhabitants through house connections and 14% through public standpipes, but only 65 % of the urban inhabitants and 35% of the rural population are provided with sanitation. Since the 1980s, the Government has sought to improve the provision of sewerage services, in particular in urban areas, and has started a few programs with the Bank and other donors. Despite these efforts, the sewerage sub-sector is grossly underdeveloped: several densely populated urban areas are not provided with any sewerage systems, existing sewerage systems are under-sized and deteriorating, and domestic and industrial liquid wastes are often discharged near residential areas without any prior treatment. Responsibility for sewerage services is vested in the Municipalities (Collectivitds Locales) which generally do not possess adequate know-how and have limited financial resources to operate and maintain their sewerage systems and plan and implement the needed rehabilitation, reinforcement and extensions. In a strategy letter elaborated under the Fifth Water Supply Project approved by the Board in November 1993 , the long-term objectives of this strategy are stated as, by the year 2020, adequate water service to 98% of the inhabitants through house connections and to 2% of the inhabitants through public standpipes, and adequate sanitation for all inhabitants (through sewerage and individual sanitation systems). The proposed project would address the sewerage most pressing needs arising from the inadequacy of the current institutional set-up, financial resources, infrastructure works, physical rehabilitation and service to the poor. 3. Lessons Learned From Previous Bank Operations. The Bank financed two operations in the sewerage sub-sector, including priority sewerage works in Casablanca and Mohammedia and sewerage feasibility studies and master plans for nine cities. ONEP and the R6gies were the beneficiaries of the five water supply projects financed by the Bank. The PCRs of the completed projects and the SARs for all projects highlighted the need to strengthen autonomy, institutional capacity and operational efficiency, and to maintain full financial sustainability through adequate cost recovery. While full cost recovery is now being accepted as a general principle and water tariff increases are following the agreements taken by the -2- Government in the Fifth Water Supply Project, the six "Protocoles d'Accord" made between the R6gies RAD, RADEEF, RADEEM, RADEEMA, RAK and RED and the Government under the same project, would enable both ONEP and the Rgies to achieve financial sustainability while improving operational efficiency and strengthening institutional capacity. The proposed project would apply the above-mentioned sound principles to the sewerage activity of RADEEF, in the framework of an addendum to RADEEF "Protocole d'Accord". 4. Rationale for Bank Involvement. The proposed project fits into the Bank's CAS of November 23, 1993 supporting Government efforts to deepen adjustment and reform, alleviate poverty, strengthen public sector and natural resource management, and encourage private sector development. The proposed project is consistent with the World Bank strategy for water resource management. The Bank has also conducted a Water Sector Review and prepared an Environment Strategy Note, highlighting the Bank strategy in Morocco for the sewerage sub- sector. The Government recognizes that the establishment of efficient and cost-effective sewerage and pollution control management systems, as well as institutional management, are critical to the country's overall development. Based on long-standing relationships in the sector, the Government has requested continued Bank participation as a development catalyst, both at the micro-level of sanitation and at the macro- level to assist in addressing intra-sectorial issues. The Bank would lend to RADEEF which will bear the foreign exchange risk. This is consistent with the R6gies restructuring plan currently being implemented under the Fifth Water Supply Project, whose major objective is the financial viability of the R6gies at the end of the project implementation period 1994-1998. 5. Proect Objectives. The project's major objective is to achieve satisfactory public health conditions by transporting and adequately treating and disposing effluents far from the populated areas; this would drastically reduce the waterborne diseases in the project area which are the major cause of morbidity and mortality still registered today. The project would provide social sewerage house connections to make sewerage accessible to the poor. The project will be instrumental in alleviating the burden of poverty and enhancing public sector and water resource management which are among the objectives of the country assistance strategy. The project will also contribute to the effort of preserving water resource quality by adequately treating industrial and domestic effluents. The project will also continue the effort of deepening the financial and managerial autonomy of RADEEF and create the right environment for private sector involvement, through stipulated reforms of the sector. Privatization has to be encouraged, as it would not only improve the efficiency of sewerage services, but also generate funds which would reduce the Government contribution to project funding. Last, the project would establish a consistent framework within which it would replicate any further project in the sewerage sector. 6. Project Description. The project would provide institutional, operational and financial assistance to strengthen RADEEF, in particular, in building up and reinforcing its financially autonomous sewerage department. Other R6gies would indirectly benefit from the project, by replicating the same innovative approach adopted for RADEEF. The project would focus on the city of Fs and include the following components: (a) rehabilitation, reinforcement -3- and expansion of sewerage facilities and pollution control works; (b) equipment to upgrade operational efficiency and provide adequate maintenance (O&M); (c) consulting services; (d) technical assistance to strengthen the sewerage service and allow private operators to take over sewerage services; and (e) training. A special attention would be paid to the re-use of treated wastewater, which is one of the priority issues emphasized in the 8th Session of the "Conseil Sup6rieur de 1'Eau et du Climat" held in Rabat in 1994. The project includes: (a) a social component providing access to sewerage to about 135,000 low income inhabitants (US$4.5 million), living in the fringe areas of Fbs through 21,000 social sewerage house connections; and (b) waste water treatment plants to improve water resources management (US$16 million). The total additional population serviced through the proposed project is estimated at 300,000 people. 7. Project Implementation. The proposed project would be carried out by RADEEF. The project cost is estimated at US$97.0 million equivalent including taxes, duties and interest during construction with a foreign exchange component of US$51.5 million equivalent (53%). The Bank would finance US$40.0 million equivalent (63% of the foreign exchange including interest during construction estimated at $1.5 million or 48% of the total and 23% of local expenses or 9% of the total) including $0.7 million of retroactive financing for urgent works carried out after March 1, 1996. CFD would co-finance US$23.6 million equivalent (37% of the foreign exchange including interest during construction estimated at US$0.8 million or 29% of the total and 14% of local expenses or 4% of the total). RADEEF would fund US$18.8 million equivalent of local expenses (or 41%), including taxes and duties estimated at about US$13.1 million. The home owners' contribution would fund US$14.6 million equivalent of local expenses including taxes and duties (32%). A breakdown of costs and the financing plan are shown in Schedule A. Amounts and methods of procurement and of disbursement, and the disbursement schedule (based on the water and sewerage sector average disbursement profile) are shown in Schedule B. A timetable of key project processing events and the status of Bank Group operations in Morocco are given in Schedules C and D, respectively. A map is also attached. The Staff Appraisal Report, No. 15433-MOR dated March 29, 1996, is being distributed separately. 8. Project Sutainabiity. The proposed project has been designed to enable water utilities to assume sewerage responsibility through financially viable sewerage departments, which means in particular, full cost recovery including debt service, operation and maintenance, as well as contribution of no less than 25% of the investment program. The proposed sewerage user charge adjustments, in line with the long-run marginal cost (LRMC), would guarantee the efficient use of resources. Sustainability would be enhanced by promoting privatization of some activities, e.g. , through concession and upgrading operational efficiency. 9. Agred Actions. The Bank and the Government have agreed that full cost recovery through sewerage user charges to approximate the long-term marginal cost (LRMC) of sewerage works is the optimal solution to be pursued, in line with the Government economic strategy consisting of discontinuing its involvement in services to be provided in local communities (CLs) and also in line with Bank policy. However, the implementation of this solution may face serious socio-economic constraints when sewerage charges exceed the affordability level. The full cost recovery of economic and financial costs principle is affordable -4- for RADEEF, while in other cases assistance from concessional sources of financing to set sewerage charges that are in line with the users ability to pay will be needed. The contributions of industries and the tariff structure will result from a tariff study which is a component of the proposed project. For small-size towns, sewerage user charges can be set at an affordable level only if investments are funded through subsidies and concessional financing. This means that, due to the limitation of donor grant amounts, most of the sewerage systems needed in the 235 small-and middle-size towns can be implemented only if funding is provided by Government subsidies. Under this assumption, Bank funding in follow-up projects would still be feasible, provided that debt service is assumed by Government which would yield the assets to the communities as an equity contribution. The Bank, Government and donors (CFD, EIB, EU, KfW and USAID) have agreed that each city and town need to comply with the following eligibility criteria, to be included in the nation-wide sewerage investment program, irrespective of the funding source: (a) existence of a thorough sewerage feasibility study and master plan giving full justification (technical, economic, financial) of the recommended investment; (b) existence of an adequate environmental impact analysis (EIA) of the proposed sewerage works; (c) satisfactory institutional set-up, by transferring the sewerage responsibility from the Municipalities to autonomous entities; and (d) existence of audit report(s) of said autonomous entities. The realization of the nation-wide investment program depends on the timely availability of adequate funds at appropriate terms. The support of the whole donor community being needed, the Bank has collaborated closely with the above-mentioned donors in the preparation and pre-appraisal and appraisal missions of the proposed project. The following stipulations agreed upon prior to negotiations have been complied with: (i) transfer of sewerage responsibility for Fs to an autonomous sewerage department created within RADEEF; (ii) availability of a draft addendum to the RADEEF "Protocole d'Accord", covering the financial and operating performances for the sewerage activity and providing for settlement of government arrears and new management procedures to avoid further arrears; and (iii) a dated covenant for carrying out a sewerage tariff structure study. The following stipulations agreed upon prior to Board presentation have been complied with: (i) signaturg of the above addendum satisfactory to the Bank; and (ii) reception by the Bank of a sewerage, policy letter satisfactory to the Bank including, inter alia, the eligibility criteria. 10. Environmental Aspects. An Environmental Impact Analysis (EIA) based on TOR reflecting Bank Operational Directives was carried out for the proposed works in the participating city of Fs and in another eleven cities and towns, under the leadership of the Ministry of Environment (ME). By improving sewage collection and treatment, and facilitating -5- appropriate wastewater re-use and disposal, this project would significantly improve the environmental conditions by enhancing public health through a drastic decrease of waterborne diseases and reducing the pollution charge of fresh waters. This project is assigned to category B. Appropriate measures to minimize environmental disturbance during construction were identified through the EIA and will be included in the bidding documents. 11. Poverty Alleviation. Extending infrastructure to areas where poverty is prevalent provides an efficient method of benefitting the poor. Extending social sewerage house connections to urban areas only partially served by sewerage systems will improve the well-being of urban poor and positively affect their productivity. 12. Benefits. The project would improve the operational efficiency of sewerage system operators and provide adequate sewerage service to the inhabitants of Fs. The project would benefit the whole population of Fs through the rehabilitation and reinforcement of existing interceptors and the construction of wastewater treatment plants and would benefit the poor, in particular, since most sewerage system extensions would be in low-income neighborhoods. The total additional population serviced through the proposed project is estimated at 300,000 to which about 200,000 equivalent inhabitants are to be added, representing the equivalent industrial pollution. The expected ERR is estimated at 11.5%. The quantification of benefits was limited to the expected revenues stemming from the sewerage service evaluated at the average selling price. The overall incremental benefits of collecting and treating waste waters are expected, however, to be higher, given the wide positive externalities that the project would produce. Waterborne diseases and infant mortality would be significantly reduced and productivity of affected population improved. The project is also expected to substantially contribute to the improvement of fresh water quality by treating domestic wastewater of Fbs. Substantial decrease of contamination of irrigated perimeters, due to the use of treated wastewater versus currently used raw sewage is also expected. 13. Risks. The project would not pose specific technical risks. The risks mostly involve the Government's willingness to enforce the stipulations of the "Protocole d'Accord" made or to be made with RADEEF, and, in particular, make the needed user sewerage charge adjustments and settlement of arrears and debt owed to and by the Government and Rdgies. However, the important water tariff increases of 1992, 1993, 1994 and 1995, the reinforcement of the R6gies autonomy, the efforts to reach a solution for the arrears and the positive Government attitude towards privatization (on March 14, 1996 the Municipality of Casablanca decided to entrust the responsibility of water, electricity and sewerage services to a private French Company) prove that the Government is committed to the sustainability of the water and sewerage operations. Technical assistance and training under the project would reinforce the Government's and the sewerage operators' commitment to the needed reforms, by identifying and enforcing the implementation of procedures necessary for sound financial management and genuine autonomy. The appointment of financially autonomous sewerage departments for the implementation, operation and maintenance of sewerage works, would also minimize technical risks. -6- 14. Recommendation. I am satisfied that the proposed loan complies with the Articles of Agreement of Bank and recommend that the Executive Directors approve the proposed loan. James. D. Wolfensohn President Attachments Washington, D.C. March 29, 1996 ScheduleA KINGDOM OF MOROCCO SECOND SEWERAGE AND WATER RE-USE PROJECT SUMMARY PROJECT COST ESTIMATMS AND FINANCING PLAN Cost ZSTIMATEG (JNUARY 1996) (USS2, a DH91 ELMAim u nI LOW low IMm Lad i2nl Zein R6sie:RAEEP - Sewers and Civil Works 415.2 166.1 249.1 46.2 18.5 27.7 - Treatment Plants 121.5 60.7 60.8 13.5 6.7 6.8 - Equipment 21.0 - 21.0 2.3 - 2.3 - Commsulting Services 18.0 2.7 15.3 2.0 0.3 1.7 - T.A and Training 4.8 0.7 4.1 0.5 0.1 0.4 A. Base Cost 580.5 230.2 350.3 64.5 25.6 38.9 B. Physical Contingencies 58.1 23.0 35.1 6.5 2.6 3.9 C. Price Contingencies 95.8 38.0 57.3 10.6 4.2 6.4 D. Total Cost (not of taxes and duties) 734.4 291.2 443.2 81.6 32.4 49.2 E. Taxe and duties 117.5 117.5 - 13.1 13.1 - F. Interest during construction-IDC 21.1 - 21.1 2.3 - 2.3 0. Total Cost (including taxes, duties & IDC) 873.0 408.7 464.3 97.0 45.5 51.5 PROJECT FINANCING PLAN DR million % IS$ million IBRD 360.0 41 40.0 20 years including 5 years of grace at the standard variable sate CFD (parallel 212.0 24 23.6 Standard CFD financing) RADEEP 169.6 20 18.8 Own Contribution House owners 131.4 15 14.6 Own Contribution TOTAL 873.0 100 97.0 I/ Exchange rate - US$1 - DH 9.0 Schedule B Page 1 of 3 KIGDOM OF MOROQCCO SECOND SEWERAGE AND WATER RE-USE PROJECT AMOUNTS AND METHODS OF PROCURMN (US $ million) PiEmi n M I LCA 2ft s Mg8. VR S (s) Sawes & Civil Works 58.8 10.0 - 20.9 89,7 (31.0) (5.0) - 6.0) 0b) Supply and inosasaden of equipmnA 1.7 -- 0.4 0.3 1.5 3.9 (1.4) (0.3) (0.2) (1.9) (a) Consultants. TA & training 2.2 1.2 3.4 (2.1) (z.1) TOTALS 60. 10.4 2.S 23.6 97.0 ank loan (32.4) (5.3) (2.3) - (40.0) RADEW 16.9 1.6 0.3 * I.' Houe ownens 13.2 1.2 0.2 14.6 Co4nander (CPD) . 234 23.6 2/ Amounts include contingencies. Amounts in ( ) indicate Bank financing I/ NBP: Not Bank Pinanced Selhedule B Page 2 of 3 KINGDOM OF MOROCCO SECOND SEWERAGE AND WATER RE-USE PROXECT Bank Loan Disbursement Catefories (in US S million) Category Estimated Estimated cost of Allocated Percentages of Total Cost Components Funded by Amounts of Expenditures Bank (net of taxes and Bank Loan Financed by Bank duties) Loan I. Civil Works and Sewers 89.7 68.8 29.8 75% II. Supply and installation of 3.9 2.4 1.2 100% of FE equipment and vehicles 80% of LE M. Consulting Services and 3.4 2.2 2.0 100% training IV. Unallocated 7.0 Total 97.0 73.4 40.0 * FE: foreign expenses; LE: 100% of local expenses (ex-factory cost) and 80% of local expenditures for other items procured locally. Page 3 of 3 KLNGDOM OF MOROCCO SECOND SEWERAGE AND WATER RE-USE PROJECT Estimsad IBR Disbursement:, US S MILLON FT 1997 1998 1999 2000 2001 2002 2003 Annual 1.2 2.8 8.0 10.0 8,0 6.0 4.0 Cumulative 1.2 4.0 12.0 22.0 30.0 36.0 40.0 Schedule C Page 1 of 2 KINGDOM OF MOROCCO SECOND SEWERAGE AND WATER R-AUSE PRO.TECT Timetable of Key Proiect Frocessing Timetable of Events: Time to prepare the Project 23 months Prepared by RADEEF, Consultants and Bank assistance Identification April 1994 Appraisal May 1995 Negotiations March 1996 Planned Board Date April 30, 1996 Planned Effectiveness Date June 1996 Schedulr-C Page 2 of 2 KINGDOM OF MOROCCO SECOND SEWERAGE AND WATER RE-USE PROJECT List of Relevant PCRs Loan No- EtiCt PRC Date PCRIPPAR No, 850- MOR First Water Supply Project December 16, 3721 1981 S-7- MOR Engineering Loan to the June 14, 1984 5131 Sewerage Sector 1724-MOR Second Water Supply June 8, 1990 8725 project 2006-MOR Third Water Supply Project 2820-MOR Public Enterprise Rationalization Loan Status of Bank Group Operations in Morocco Schedule D IBRD Loans and IDA Credits in the Operations Portfolio Page I of 2 (As of February 29, 1996) Difference Loan or between actual Project Credit Fiscal Original Amount in US$ million and expected Id Number Year Borrower Purpose Bank IDA Cancellations Undisbursed disbursements la Number of Closed I.s/Credits. 81 Active Loans 5420 2798 1987 ONPT Telecommunications 125.00 900 5.35 14.35 5452 2806 1987 BNDE, BCM, BMCE Industrial Export Finance I 70.00 133 2 71 2.61 5423 2825 1987 Kingdom of Morocco National Water Supply Rehab 60.00 6.80 6.80 5449 2826 1987 Kingdom of Morocco Greater Casablanca Sewerage 60.00 20.74 20.44 5428 2910 1988 Kingdom ofMorocco Power Distribution 90.00 25.60 2560 5425 2954 1988 Kingdom of Morocco Small & Medium Irrigation II 23.00 9.47 9.47 5480 3026 1989 Kingdom of Morocco Rural Primary Education 83.00 19.68 19.68 5468 3036 1989 Kingdom ofMorocco Agricultural Research & Extension 28.00 10.28 10.28 5473 3048 1989 Kingdom of Morocco Public Administration Support 23.00 9.41 9.41 5434 3121/22 1990 Kingdom of Morocco, CIH Housing Finance II 80.50 2.19 5454 3136 1990 BNDE, BCM, BCME, CDM, Industrial Finance 170.00 054 7.58 1.39 WAFA 5437 3156 1990 Kingdom of Morocco Forestry Development lI 49.00 20.38 19.38 5481 3168 1990 Kingdom of Morocco Highway V (Sector) 79.00 3.97 3.97 5440 3171 1990 Kingdom of Morocco Health Sector Investment 104.00 52.1 52.81 5459 3262 1991 Kingdom of Morocco Rural Electrification II 114.00 96.37 8697 5433 3283/84 1991 Kingdom of Morocco/ODEP Port Sector 132.00 5.00 35.70 -58.32 5463 3295 1991 Kingdom ofMorocco Rural Basic Education Development 145.00 106.57 69.57 5495 3366-73 1991 BNDE, BCP, SGMB, CDM Financial Sector Development 235.00 6.87 31.76 23.72 BMCE, BCMK BMCI 5438 3557 1993 ONPT Telecommunication Restructuring 100.00 71.17 47.17 5462 3587 1993 Kingdom ofMorocco Second Large Scale Imgation Impr. 215.00 191.46 13.46 5514 3618!21 1993 Kingdom of Morocco, CIH, Land Development 13000 1200 69.36 -18.84 SGMB 5517 3616/17 1993 Kingdom of Morocco. FEC Municipal Finance I 104.00 67.11 -34.50 5504 3647 1994 Kingdom of Morocco Environment Management 6.00 5.40 0.78 5486 3662 1994 CNCA National Rural Finance 100.00 79.88 47.38 5435 3664/5 1994 Kingdom of Morocco/ONEP Water Supply V 160.00 151.03 24.30 5499 3688 1994 Kingdom of Morocco Imrgated Areas Agric. Services 25.00 23.50 5.09 5493 3765 1994 Kingdom ofMorocco ASIL II 121.00 107.52 13.22 5489 3901 1995 Kingdom of Morocco Secondary Roads 57.60 57.60 3.21 5522 3928 1996 Kingdom of Morocco Financial Markets Development 250.00 94.53 74.91 41303 3935 1996 Kingdom of Morocco Emergency Drought 100, -0JI TOTAL 3039.10 34.74 1424.96 441.43 Activinn Clmi Lon Ia Total Disbursed (IBRD and IDA) 1391.10 4269.20 566030 Of which repaid 1125.66 2698.83 3824.49 Total now held by lBRD and IDA 2621.73 1644.14 4265.87 Amount Sold 20.11 20.11 Ofwhichrepaid 20.11 20.11 Total undisbursed 1424.96 1424.96 a Actual disbursements to-date less intended disbursements to-date as projected at appraisal. Statement of IFC Investments in Morocco ScheduleD (As of February 29. 1996) Onnal Gross Commtment Undisburs. Fiscal IFC IFC Held by Held by incl. Year Oblizator Type of'Business Loan Equity Participants Total IFC Participants Participants 1963 Banque Nationale pour le Dev. Development Finance 44.25 2.70 39.99 86.94 7.27 1978 Econ. (BNDE) 1984 1986 1980 Societe Miniere du Bou-Gaffer Mines 12.99 2.35 - 15.34 2.35 (SOMIFER) 1987/ Credit Immobilier et Hotelier (CI) Tourism 67.50 - 78.37 145.87 47.26 15.36 1990 19881 SettatFilatue (SETAFIL) Textile Factory 3.47 1.39 4.86 4.48 1993 0.31 1989 Compagnie Maritime Maroco- Feny Service 4.30 - 2.00 6.30 Norvegienne (COMARIT) 1991 Societe ENNASR de Peche Agro-industry 2.46 - 2.46 1.54 1992/ Ciments du Maroc Cement 28.65 - 4.57 33.22 24.28 8.71 1994 (formerly CIMASFI) 1992 International de Financement et Financial Services - 3.83 3.83 3.32 0.88 et do Participation (INTERFINA) 1994 Societe Marocaine Capital Markets - 0.50 0.50 0.50 0.50 1995 Siparex-Wafa Dev. Financial Services - 4.00 4.00 4.00 4.00 1995 Socidtd Financibre Siparex Financial Services --- 0.09 0.09 0.09 0.09 1995 Inter-EuropaBankRT Financial Services 35.00 400 39.00 1995 Tilts Communications A/S Infrastructure 5.39 13.67 19.06 1996 Alexandria Nationsl Iron & Steel Co. Mining 10.00 - 15.00 25.00 1996 Alto Parana S.A. Timber, Pulp and Paper 7.00 - 7.00 1996 Amantaytau Goldfields Mining - M Q - 0.50 0.50 Total gross commitments 221.01 33.13 139.93 394.07 Less cancellations, terminations, repayments and sales 79.40 3.40 115.86 198.66 Pending Commitments ATTIIARI Company 0.56 0.56 Banque Marocaine do Commerce Extrieur, SA (BMCE) 3.00 17.50 20.50 PALMBAY 1.83 1.83 Socit Marocaine dintermediation Fineancire QM 0.63 Total pending commitments - 6.02 6.02 Total commitments beld and pending commitments 84.22 17.48 41.57 143.27 Total undisbursed commitnents 0.00 5.47 5.47 IBRD 2687; -6 ."- TANGER MOROCCO m TETOUAN SECOND SEWERAGE AND WATER ^HOEMNAR RE-USE PROJECT oHAOUEN REGIES LOCATION K, El , ATLANT/C OCEAN - R D RDE REGIES TAOUNATE 0 HEADQUARTERS OF REGIES RADEETA 9 PROVINCE CENTERS SERVED BY REGIES KENITRA R MOUNTAINS SoS*\ ISOHYET KHEMISSET MEKNES\ RADEEF RIVERS AND WADIS Skh rot. k Sefro Mohommed. --/ FES PROVINCE CAPITALS* CASABlANCA -i- - RABAT NATIONAL CAPITAL NEN J R - - PROVINCE BOUNDARIES* Amo •• INTERNATIONAL BOUNDARY EL JAD.D.\ • INTERNATIONAL BOUNDARY (APPROXIMATE) ADEEC KHENIFRA SETTATO KHOUR ...., *Nome o provce is , som Ou.lhdio Zemm tnme of pro,nce capreol, . El Borour . Ko o -. BEN[ ELLAL -32 SAFI RADEET (MA \.T_Ap E GOUoDA4,qy S EL KELAA AOERRACHIDIA *Cheý.. DES SRARHNA OZL Tomonore -b - RDMA ESSAOUIRA9 MARRAKECH OUARZAZATE no0 1?1 3AGADIR 9.Hne one- KILOMETERS O A;t Melloul % '-Þ5.. TIZNIT \ OTATA so me. . . . oro e, , .. MARCK 1995 IMAGING Report No: P- 6846 MOR Type: MOP