MA Energy Development Fund (Dropped)

Objectif officiel

The objectives are to increase: (a) investment in generation capacity that emits less CO2 than the current mix; and (b) energy efficiency in a number of end-use sectors (especially industry and urban transport). The project will support the setting up of the Moroccan Energy Development Fund as a Financial Intermediary (wholly owned by the Government of Morocco). The project will alsoprepare the operational details for delivering CTF funds and an IBRD line of credit to the Fund. 1/7/10. Concept Review held 12/14/09. PCN review Decision Note and finalized PCN was circulated on Dec 28. Appraisal is indicatively planned for late April (though this may slip). Board is planned for late July 2010 (though this may also slip). As well as supporting the institutional set up of the FDE, the proposed project, through a combination of IBRD lines of credit ($100m) and CTF loans ($150m), will expand the FDE#s capability to offer long-term debt financing to public and private sector projects. It will (i) allow the FDE to provide long-term debt financing support to sub projects through direct lending by FDE to infrastructure projects (possibly by joining a consortium of banks) and (ii) deliver Clean Technology Funds to the FDE for disbursement to sub-projects that meet CTF criteria. Overall, the project will complement funding already available to the FDE # but which has mainly been earmarked for use as equity financing. Broadening the mix of sources of funds available to the FDE (i.e. IBRD and CTF) will allow the FDE to better tailor financing packages to the particular needs of less financially viable sub-projects to allow them to reach financial closure. 5/28/10. Board approval date slipped from 10/28/10 to 12/21/10. Awaiting to hear back from the Government on the finalization of the operation manual for the COMASTEP. 07/13/10. As requested by Silvia, TTL changed from Mustafa Zakir Hussain (UPI#280099)to Silvia Pariente-David (UPI#173680). 11/5/10. Board approval slipped from 5/26/11 to 10/20/11. moving today, but unlikely to be ready to go to Board this FY. 11/19/10. Acoording to the TTL, following discussions during the Annual Meetings, the Government of Morocco revised the Operations Manual, which will now be acceptable to the Bank. The Committee of COMASTEG will meet end-November 2010 and a decision will be taken on which project to fund (public or private). 12/8/10. Board approval postponed from 10/20/11 to 1/10/12 as Government is not showing signs of moving. 6/8/11. According to SM, CCTF amount decreased from $100M to $75M as per FY12 CIF WPA. 6/23/11. TTL's email to the SM sent today reads as follows: "We just had a mtg on P120166 MA-Energy Dev Fund. It will take another few days to know if WB gets out of this project, leaving AfDB to do it alone. I would suggest to keep it for the moment. In any case if we keep it, it will now move fast." 8/23/11. Patricia's email to Eavan. " We are working with the AfDB on a joint proposal to the CTF Trust Fund Comm

Texte publié par le bailleur, en anglais. Il décrit une intention au moment de l’approbation, pas un résultat obtenu.

Calendrier

Financement

Engagement actuel

100 000 000 dollars

Dont Banque internationale pour la reconstruction et le développement (BIRD)

100 000 000 dollars

Coût total déclaré du projet

250 000 000 dollars

Instrument

Prêt d’investissement spécifique

Montants en dollars des États-Unis, tels que publiés par la Banque mondiale. L’engagement actuel inclut les financements additionnels et les annulations. Ce sont des montants engagés, pas décaissés.

Place de l’énergie

30 % du projet relève des secteurs de l’énergie, selon la ventilation déclarée par le bailleur. L’énergie en est une composante.

• Autres transports 15 %
• Biomasse 10 %
• Géothermie 10 %
• Énergie solaire 10 %

Thèmes

• Efficacité énergétique (Efficacité au Maroc) : « energy efficiency » figure dans l’objectif officiel.

Documents officiels

• Document d’information sur le projet 28 décembre 2009, en anglais