Morocco Unveils ’Mohammed VI Fund’ to Boost Economic Recovery and Support SMEs

The objective of the plan is to primarily support the fabric of small and medium-sized enterprises. It will increase the capacity of the productive sectors to invest, create jobs and preserve sources of income, the sovereign stressed. Also, to ensure the success of this plan, emphasis is placed on the need to successfully operationalize it within a national contractual framework, involving the State and economic and social partners and based on the principle of correlation between rights and obligations.

This "Mohammed VI Fund for Investment" must promote support for Moroccan companies through the system of state-guaranteed loans to more than 20,000 of them with nearly 26.1 billion dirhams, Mohammed VI specified. The King was pleased with the beneficiary entities of this support, who have demonstrated their resilience to the crisis and have preserved jobs, while urging them to continue the efforts on the part of the banking sector and the central guarantee fund, not forgetting the companies and their professional associations. The sovereign also expressed the wish that the "Mohammed VI Fund for Investment" play a leading role in promoting investment and strengthening the capacities of the national economy.

The sovereign also gave his instructions for this fund to be endowed with 15 billion dirhams from the state, in order to attract Moroccan and international partners to accompany the fund’s investments and contribute to upcoming investment projects. This Fund must also contribute to increasing the economic, social and environmental impact.

It should be noted that, depending on the areas deemed priority at each stage and according to the needs of each sector, this Fund will support its interventions on specialized sectoral ones attached to it. These areas include industrial restructuring, innovation and high-potential activities, small and medium-sized enterprises, infrastructure, agriculture and tourism, Mohammed VI stressed.