|Approval Date||27 May 2020|
|Signature Date||09 Jun 2020|
|Planned Completion Date||31 Dec 2020|
|Last Disbursement Planned Date||31 Dec 2021|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11330|
This proposal relates to an envelope of 264 million euros from the resources of the African Development Bank (AfDB) to contribute to finance the COVID-19 Response Support Programme (PARC-19). This is a crisis response budget support as defined by the COVID-19 Response Facility (CRF) approved by the Board of Directors on 8 April 2020. The programme will support the Moroccan Government’s efforts to tackle the health, social and economic crisis. Supplementary resources will be rapidly provided to the Kingdom to roll out emergency health and social interventions and build the resilience of the national economy. At the onset of the COVID-19 pandemic, a strategic high-level dialogue was initiated with the authorities on the emergency measures and the needs identified. The dialogue confirmed the priorities of the programme components. PARC-19 is centred on emergency measures necessary to tackle the COVID-19 crisis. It will help to strengthen the Moroccan health system capacity to detect the virus by granting new authorizations for health centres to carry out tests. Households –including those living off the informal sector–will be supported through targeted indemnities. Businesses too will be supported with enhanced cashflow to further build their resilience to the crisis. Therefore, the programme is structured around two components: (i) Support for the health and social response and (ii) Support for private sector resilience.
The goal of PARC-19 is to facilitate the response to the health, social and economic crisis caused by the COVID-19 pandemic. In this regard, its proposed objectives are to (i) protect citizens against health risks, (ii) protect the jobs of citizens and preserve their purchasing power and (iii) build private sector resilience to prepare for the resumption of economic activity.
The direct beneficiary of PARC-19 is the State of Morocco through the Ministry of Economy, Finance and Administrative Reform (MEFRA), since the loan resources will be included in the State budget. The indirect beneficiaries are Moroccan citizens who will receive indemnities during the crisis, thereby strengthening their purchasing power. The private sector, particularly VSMEs,will also benefit from the programme since the related products will help to build their resilience to the crisis.
African Development Bank
GOUVERNEMENT DU MAROC MINISTERE DES FINANCES DIRECTION DU
|Last Update||18 Oct 2020|