VISP - ONEE Water Stabilisation Facility

repaying

Provision of a sovereign guaranteed loan of up to EUR 50 million in favour of the Office National de l'Electricite et de l'Eau Potable ("ONEE" or "the Company") to address the urgent need for liquidity support of the Company, a Moroccan State-Owned Enterprise (SOE) providing vital infrastructure services, following the unprecedented economic impacts of the COVID-19 crisis. ONEE is an existing client of the Bank, and the proposed transaction is in line with the Vital Infrastructure Support Programme (VISP) under the Bank's COVID-19 Solidarity Package.