| Project Detail |
Approval Date 24 May 2022
Signature Date 13 Jun 2022
Planned Completion Date 31 Dec 2024
Last Disbursement Planned Date 31 Dec 2024
Sovereign / Non-Sovereign Sovereign
Sector Transport
DAC Sector Code 21050
Environmental Category 2
Commitment U.A 54,116,481.63
Status Approved
Project General Description
The supplementary financing for the Rabat-Salé Airport Extension and Modernisation Project (PEMARS) is linked to the initial project under implementation. It is part of the transport sector development, in particular continuation of the upgrade and modernisation of infrastructure and services to boost the logistic competitiveness of the national economy. The unprecedented impact of the COVID-19 health crisis has led to a drastic drop in ONDA’s activity level since March 2020. In 2020, the number of passengers dropped by more than 70%, the number of flights by 65%, air freight by 36% and road traffic by 59%. ONDA’s financial situation has deteriorated over the past two years and the Authority is finding it difficult to fully meet its contribution to the initial project. The supplementary financing requested from the Bank will make it possible to finance part of the work initially under ONDA responsibility, in order to complete all planned activities and guarantee smooth project execution. The revised cost of the Rabat-Salé Airport Extension and Modernisation Project (PEMARS) amounts to EUR 176 million. This intervention consolidates previous Bank operations and strengthens its experience and comparative advantage in the air transport subsector.
Project Objectives
The initial project’s two main objectives remain unchanged. The project’s sector objective is to contribute to the development of air transport infrastructure in Morocco to meet the needs of passenger and freight traffic by 2035. Specifically, the project targets: (i) an increase in Rabat-Salé Airport’s capacity; (ii) improvement of the quality of service to passengers and users; and (iii) contribution to the tourism and economic development of the project impact area (PIA).
Beneficiaries
The present intervention will benefit the Office National Des Aéroports (ONDA) in order to finance the deficit in the initial financing of the project, which was to be covered by ONDA, without modification of the planned activities, and thus guarantee the proper execution of the project. |
