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Project Name:
El Jadida RADEEJ |
Country:
Morocco |
Highlights:
- The project will help rehabilitate and expand the sewerage collection infrastructure in El Jadida and surrounding communities, connecting poorer neighborhoods to the network.
- The construction of new wastewater treatment and disposal facilities will bring El Jadida up to Morocco’s national standards for collection and environmental disposal of wastewater. This will reduce health hazards due to the discharge of untreated sewage to surface and coastal waters and the associated pollution of beaches, and support the development of the tourism industry.
- The investment, helping domestic financial institutions provide long-term financing to a well-run subnational public utility, without sovereign guarantee, is the first of its kind for IFC in the MENA region.
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About the Municipality/company:
Régie Autonome Intercommunale de Distribution d’Eau et Electricité de la Province d’El Jadida (“RADEEJ”) is the municipal water supply, sanitation and electricity distribution utility in El Jadida, Morocco. |
Financing objective:
The proceeds of the loan will be used to finance the rehabilitation and extension of sewerage collection infrastructure as well as the construction of new treatment and discharge facilities serving El Jadida and surrounding communities. |
The structure of the project :
Risk Sharing Facility for up to MAD 150 million, representing 50% of a MAD 300 million loan to be provided by four local financial institutions. |
The outcome :
The involvement of IFC gave comfort to local banks, enabling them to lengthen the maturity of the fixed-rate, local-currency loan, consistent with the long-term nature of the investment being financed.
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