Morocco Guarantees $5.5 Billion in Loans to Boost Economic Recovery

The guaranteed loans have benefited 80,000 recipients, mostly very small, small and medium-sized enterprises (VSMEs), the minister specified, according to whom the draft law to grant legal personality to the Mohammed VI Fund for Investment has been prepared and will soon be presented to the House of Advisors.

This will be an opportunity to address the objectives, mechanisms and areas of intervention of this Fund, as well as the governance of its management, continued Mohamed Benchaâboun, indicating that the government is in the final adjustments for the launch, for the first time, of a structural reform of public institutions and enterprises (EEPs), through the transformation of public commercial establishments into joint-stock companies and the liquidation or dissolution of those whose mission is no longer proven, in addition to the creation of homogeneous sectoral groups or poles.

The interest, explains the minister, is that "this project will allow us to increase the efficiency of the public sector and rationalize the associated expenditures". In order to improve access to public services, the government has opted to simplify administrative procedures and move towards their digitalization, he assured, adding that "the State has made considerable efforts to reduce payment deadlines for the benefit of companies". As proof, the minister of the Kingdom declared, the payment deadlines for public contracts have been reduced from 144 days in 2016 to 37 days in 2019.