VISP - ONDA Stabilisation Facility

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of a sovereign guaranteed loan of up to EUR 150 million in favour of Office National des Aeroports ("ONDA" or the "Company") to address the urgent need for liquidity support of the Company, a Moroccan State-Owned Enterprise (SOE) providing vital infrastructure services, following the unprecedented economic impacts of the COVID-19 crisis. The proposed transaction is in line with the Vital Infrastructure Support Programme (VISP) under the Bank's COVID-19 Solidarity Package.

Project ID 52336

Status Repaying

Location

Morocco

Business Sector

Municipal Infrastructure

Notice Type

State

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

M. Youssef Zemmama
y.zemmama@onda.ma

Project ID 52336

Status Repaying

Location

Morocco

Business Sector

Municipal Infrastructure

Notice Type

State

Approval Date

23 Jul 2020

Disclosure date

22 Jun 2020

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project description

Project objectives

The goal of the Project is to help this SOE meet short-term obligations in order to enable essential operations and services to continue uninterrupted despite the financial stress of the COVID-19 crisis.

Transition impact

ETI Score: 65

ETI score:65

roject will have the following Transition Impact:

Resilient- The Project entails providing financial support to ensure the continuity of the vital services provided by this SOE and ensure that capacity is maintained throughout and beyond the COVID-19 pandemic

Well-governed- The EBRD team will work with the Government of Morocco to develop a policy agenda on SOE modernisation and consolidation, with the areas of focus comprising governance consolidation.

Client information

OFFICE NATIONAL DES AEROPORTS

ONDA is the state operator and administrator for all airports and air navigation services. It manages a network of 25 airports and supervises Moroccan aerospace through two regional air traffic control centres in Casablanca and Agadir.

EBRD Finance Summary

EUR 150,000,000.00

Liquidity facility for ONDA of EUR [150] million.

Total project cost

EUR 150,000,000.00

Total Project cost is EUR 150,000,000.

Additionality

Crisis response: the targeted SOE in the infrastructure sector is facing risks of financial instability that may undermine its ability to continue to provide vital services to people and businesses, pay suppliers or employees or continue capital expenditures in the context of health emergency measures taken during the COVID-19 pandemic. The Bank is providing unique support that will effectively bridge the financing gap due to adverse market conditions in Morocco.

Environmental & Social Summary

Categorised B (2019 ESP). Key E&S risks associated with providing a working capital loan for the operation of vital infrastructure services include health and safety for workers and communities, labour conditions, contractors' management and stakeholder engagement. The Environmental and Social (E&S) due diligence (ESDD) will be undertaken in line with the ESDD response to COVID-19. The ESDD will be undertaken in-house; it will include the review of the SOE's E&S organization, practices and performance (through the Corporate Questionnaire and COVID-19 Questionnaire) and the preparation of an ESAP for the SOE as appropriate, to agree on actions to align its corporate environmental and social management system with EBRD's PRs.

Technical Cooperation and Grant Financing

The project will potentially include technical cooperation to accompany any additional Transition policy initiatives. Donors will be sought once funding needs are identified; currently an indicative amount has been confirmed at EUR 500,000, as part of a package to support SOEs in Morocco.

Company Contact Information

M. Youssef Zemmama
y.zemmama@onda.ma

PSD last updated

22 Jun 2020

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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VISP - ONDA Stabilisation Facility

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)