General framework: The project is financed by the Transition Fund for US$ 4.9 million and by the Moroccan Government for US$ 1 million in kind contribution. The total estimated project cost is US$ 1 million. The project will be executed in a period of four years. Risk Analysis: Inherent risk Risk Rating Mitigation of risk Risk rating after mitigation Low Country level The Moroccan public finance system is governed by a complex legal and regulatory framework that offers guarantees of high reliability and transparency. compliance with rules and Morocco’s regulations and existing accountability arrangements provide an adequate framework for the use of public funds and public financial management (PFM) is considered broadly transparent. Project level Moderate Low A Project Management The Ministry of Economy and Finance has Unit will have a dedicated long experience with the World Bank at the consultant for Financial county and project levels. The PIU will be Management and based at the Ministry. Its Staff are fully Procurement that will qualified but will not be assigned full-time to work closely with the the Project as they have other tasks within the Director of the PMU. Ministry. Capacity building of financial management staff of the project. Close monitoring by the World Bank financial management team A Project implementation manual acceptable to the World Bank to ensure that project activities are covered in their entirety and that the risk level is mitigated. Inherent risk before mitigation Inherent risk after mitigation Moderate Substantial Control Risks Rating after Risks Rating Mitigation of risk mitigation of risk Low Budget
General framework: The project is financed by the Transition Fund for US$ 4.9 million and by the Moroccan Government for US$ 1 million in kind contribution. The total estimated project cost is US$ 1 million. The project will be executed in a period of four years. Risk Analysis: Inherent risk Risk Rating Mitigation of risk Risk rating after mitigation Country level The Moroccan public finance system is governed by a complex legal and regulatory framework that offers guarantees of high reliability and transparency. Morocco’s compliance with rules and regulations and existing accountability arrangements provide an adequate framework for the use of public funds and public financial management (PFM) is considered broadly transparent. Low Project level The Ministry of Economy and Finance has long experience with the World Bank at the county and project levels. The PIU will be based at the Ministry. Its Staff are fully qualified but will not be assigned full-time to the Project as they have other tasks within the Ministry. Moderate A Project Management Unit will have a dedicated consultant for Financial Management and Procurement that will work closely with the Director of the PMU. Capacity building of financial management staff of the project. Close monitoring by the World Bank financial management team A Project implementation manual acceptable to the World Bank to ensure that project activities are covered in their entirety and that the risk level is mitigated. Low Inherent risk before mitigation Substantial Inherent risk after mitigation Moderate Control Risks Risks Rating Mitigation of risk Rating after mitigation of risk Budget Low