Post sponsored by NewzEngine.com

Source: Japan International Cooperation Agency

signing ceremony

On Dec. 2, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of the Kingdom of Morocco in Rabat to provide a Japanese ODA loan of up to $200 million for the COVID-19 Response Support Program Loan.

The objective of the program loan is to promote strengthening of the health care system, expansion of the social security system, and financial support for micro, small, and medium sized enterprises taking into consideration the COVID-19 pandemic in Morocco, through providing budget support, thereby contributing to economic stabilization and development efforts of the Kingdom of Morocco. This program loan will contribute to the achievement of SDGs Goals 1, 3 and 10.

This program loan is a co-financing program with the African Development Bank (AfDB). It will contribute to the initiative “Enhanced Private Sector Assistance for Africa” (EPSA4), the development partnership between AfDB and the Government of Japan, which was launched at the Seventh Tokyo International Conference on African Development (TICAD7) in 2019.

Details for the program loan are below.

Project title Amount
(million U.S. Dollar)
Annual interest rate (%) Repayment
period
(years)
Grace
period
(years)
Procurement
Project Consulting services
COVID-19 Response Support Program Loan 200 6-month US dollar LIBOR+110bp 6-month US dollar LIBOR+110bp 25 7 General untied

2. Executing Agency
Ministry of Economy, Finance and Administration Reform
Address: No. 74, Avenue Oum Errabiaa, Rabat, Morocco

3. Planned Implementation Schedule
(1) Completion of program loan: December 2020 – with completion of the loan disbursement
(2) Issuing of letters of invitation for consulting services (including detailed design work): No hiring of consultants is planned for this program loan.
(3) Tender announcement of the initial procurement package for international competitive bidding on the project construction: No work in conjunction with bidding is planned for this program loan.

MIL OSI Asia Pacific News