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Morocco’s Mohammed VI Investment Fund and Moroccan banks (GPBM) signed a deal to allow private investors access to subordinated debt. The fund will allocate 4 billion dirhams to this financing mechanism which will be available starting from April 2024.
Morocco’s Mohammed VI Investment Fund and Moroccan banks (GPBM) signed a deal to allow private investors access to subordinated debt. The fund will allocate 4 billion dirhams to this financing mechanism which will be available starting from April 2024.
The newly launched subordinated debt targets enterprises with a capitalization of 5 to 500 million dirhams. It aims to create some 35,000 jobs. Mohammed VI Investment Fund is one of the key pillars of the recovery plan announced by King Mohammed VI in July 2020. It has an initial capital of 15 billion dirhams (USD 1.6 billion) from the state budget, and aims to attract up to 30 billion dirhams in additional private capital, ultimately generating a total investment envelope of 120 to 150 billion dirhams.
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Morocco is facing a growing demand for infrastructure services as it seeks to boost its economic recovery and competitiveness. The country also seeks to increase the share of the private sector in total investments from one-third currently to two-thirds by 2035.
