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IFC Signs Agreement with Government of Morocco to Improve Water Supply, Support Agriculture


In Rabat:
Bouchra El Achkar
Phone: +212 537 65 24 79
Email:
Belachkar@ifc.org

In Cairo:
Riham Mustafa
Phone: +202 24 619 140
E-mail:
rmustafa@ifc.org


Rabat, Morocco, April 28, 2010—IFC, a member of the World Bank Group, today signed an agreement with the government of Morocco to support private investment in a new desalination and irrigation plant that will help improve the water supply to a vital agricultural region.

IFC will advise the Ministry of Agriculture on structuring a public-private partnership to build the desalination and irrigation plant in the Chtouka area, a region near the coast that relies heavily on agriculture. The demand for water in the area has grown together with trade to Europe, depleting the aquifer in the region.

The plant will have an estimated annual capacity of between 60 and 85 million cubic meters. IFC will help ensure that the project is financially and environmentally sustainable.

 “This project will restore a sustainable balance in water use in Chtouka and maintain the high value added of agricultural production in the area," said Aziz Akhannouch, Minister of Agriculture and Marine Fisheries.

“Encouraging private investment in infrastructure and ensuring the environmental sustainability of projects are IFC priorities in the Middle East and North Africa. The desalination and irrigation plant in the Chtouka area will support agriculture, an important industry in Morocco, and help create jobs for the surrounding community,” said Rashad Kaldany, IFC Vice President for the Middle East and North Africa.

The project builds upon IFC’s previous work advising and helping the Ministry of Agriculture to implement Morocco’s first public-private partnership, the El Guerdane Irrigation plant.

IFC’s advisory services programs work with governments to structure commercially viable public-private partnerships to help increase access to and improve the quality of public services, alleviate budgetary
constraints, and attract private sector expertise and investment.


About IFC

IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing capital for private enterprise, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit
www.ifc.org.