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Morocco - Economic and Financial Governance Revitalization Support Programme - PARGEF - Phase I - Appraisal Report
Management hereby submits the following proposal and recommendation to grant a loan totalling EUR 121 million to the Kingdom of Morocco to finance the Economic and Financial Governance Revitalization Support Programme for the 2012 financial year. Programme appraisal was carried out in August/September 2012 based on extensive consultations embarked upon with the Moroccan authorities following the preparation mission undertaken jointly with the World Bank and the European Union,which are Programme co-financiers. PARGEF is hinged on the strategic guidelines of the Government’s Medium-Term Economic and Social Development Programme (PDES 2012-2016), taking into account the principles of the Paris Declaration on Aid Effectiveness and principles of good practice for the application of conditionality. The Programme is in keeping with the guidelines of the Bank’s 2012-2016 Country Strategy Paper which lay emphasis on the strengthening of the governance system and the upgrading of economic infrastructure.