Morocco - Rabat-Salé Airport Modernization and Extension Project (PEMARS) - Supplementary financing

The supplementary financing for the Rabat-Salé Airport Extension and Modernisation Project (PEMARS) is linked to the initial project under implementation. It is part of the transport sector development, in particular continuation of the upgrade and modernisation of infrastructure and services to boost the logistic competitiveness of the national economy. The unprecedented impact of the COVID-19 health crisis has led to a drastic drop in ONDA’s activity level since March 2020. In 2020, the number of passengers dropped by more than 70%, the number of flights by 65%, air freight by 36% and road traffic by 59%. ONDA’s financial situation has deteriorated over the past two years and the Authority is finding it difficult to fully meet its contribution to the initial project. The supplementary financing requested from the Bank will make it possible to finance part of the work initially under ONDA responsibility, in order to complete all planned activities and guarantee smooth project execution. The revised cost of the Rabat-Salé Airport Extension and Modernisation Project (PEMARS) amounts to EUR 176 million. This intervention consolidates previous Bank operations and strengthens its experience and comparative advantage in the air transport subsector.