Marrakesh, Morocco, December 10, 2010
—IFC, a member of the World Bank Group, today signed an agreement with Morocco’s Ministry of Economy and Finance to help the country establish a public-private partnership (PPP) unit that will develop large projects to improve infrastructure and service delivery in rural and urban areas.
Samir Mohammed Tazi, Director of the Department of Public Enterprises and Privatization (DEPP) within the Ministry of Economy and Finance, said, “It is important to further develop public-private partnerships in Morocco, taking into consideration international best practices and leveraging the successes already achieved in the country.”
Joumana Cobein, IFC Country Officer for Morocco, said, “Infrastructure gaps can impede economic growth. We look forward to supporting the government's efforts to increase private sector participation in infrastructure and improve basic services for the Moroccan people.”
Improved infrastructure and public services are the foundations of strong, sustainable economies, especially in the Middle East and North Africa, where people have primarily relied on the state to provide essential services that require major capital expenditures.
IFC has been working closely with the Moroccan government to mobilize private sector participation in flagship projects. IFC recently helped structure a PPP to build a desalination plant and irrigation systems in the Chtouka region. The desalination plant will have an estimated daily capacity of between 150,000 and 250,000 m3 and require investments of about €225-375 million.
IFC advised Morocco on the
El Guerdane Irrigation Project, which was successfully awarded in 2005 and began operation in 2009. It was Morocco’s first public-private irrigation project and brought improved irrigation services to 2,000 farmers. IFC also recently signed an agreement with Morocco’s Agency for Solar Energy to help structure a PPP for Morocco’s largest solar power plant at Ouarzazate.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
.
