Mohammed VI Fund for Investment and the European Investment Bank (EIB) have signed a mandate letter providing for a financing package of €500 million in support of the Fund.
The Fund stated in a press release that this mandate letter, which was signed on the sidelines of the Africa Investment Forum (AIF) in Marrakech, paves the way for a strategic partnership between the two institutions.
According to the Fund, the package will primarily focus on funding infrastructure projects, deploying innovative financing instruments for Moroccan companies, and supporting the Fund’s activities in private equity and venture capital.
This financing could also be accompanied by guarantee instruments and technical assistance, through innovative tools currently being developed in collaboration with the European Commission (EC).
The same source explained that the financing would be added to the Fund’s current resources of MAD 15 billion derived from its initial capital, enabling the Fund to strengthen its action further and partly achieve its fund-raising objective by leveraging its funds.
This partnership testifies to Europe’s strong commitment to supporting the initiatives of Mohammed VI Fund for Investment to promote sustainable investment and strengthen the private sector, in line with the objectives of the partnership uniting Morocco and the European Union (EU).