Mohammed VI Fund for Investment, EIB sign new €500M financing package

Mohammed VI Fund for Investment, EIB sign new €500M financing package

the European Investment Bank (EIB) will extend the Mohammed VI Fund for Investment (FM6I) a new financing package worth €500 million.

The Mohammed VI Fund for Investment (FM6I) and the European Investment Bank (EIB) have signed a mandate letter covering a financing package of 500 million euros for the Fund.

The financing-related mandate letter, signed on the sidelines of the Africa Investment Forum (AIF) held in Marrakech this week, aves the way for a strategic partnership between the two institutions, says the Fund in a press release.

Priority will be given to financing infrastructure projects, deploying innovative financing instruments for Moroccan companies, and supporting the funds’ activity in private equity and venture capital, explains the press release.

The financing could be backed by guarantee instruments and technical assistance support, through mobilizing innovative tools currently being structured with the European Commission.

This financing would be added to the fund’s current resources of 15 billion dirhams from its initial capital, and would enable it to further strengthen its action and partly meet its fund-raising objective by leveraging its own funds.

This partnership testifies to Europe’s strong desire to support the initiatives of the Mohammed VI Fund for Investment in its mission to promote sustainable investment and strengthen the private sector, in line with the objectives of the partnership between the European Union and Morocco.

In another development, the new EIB representative in Morocco, Adrien de Bassompierre, who is taking part in the Africa Investment Forum, reiterated the EIB’s commitment to supporting the development of the private sector in Morocco and in Africa.

Morocco is an “exceptional” gateway to the African continent and “we are working with Moroccan economic players and financial institutions beyond the Kingdom’s borders,” he said, noting that this once again demonstrates Morocco’s influence across the continent, in favor of investment.

The EIB representative, who commended Morocco’s role as host of the AIF, underlined that the Kingdom has demonstrated its ability to successfully organize the annual meetings of the World Bank and the International Monetary Fund, as well as this Africa Investment Forum, in a difficult context, following the earthquake that affected several provinces in the country. This evidences the Kingdom’s resilience and its ability to remain exceptional, he said.

He added that the Forum is an opportunity to meet numerous Moroccan and African partners, investors, operators and other international financial institutions.

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