Moroccan Economy Minister Mohamed Benchaaboun revealed the details of providing $4.5 billion to the strategic investment fund created by the Kingdom, as Morocco aims, as announced by King Mohammed VI, at the end of July, to direct $12 billion to the economic recovery plan, where guarantees will be provided by the state, with the aim of providing corporate bank loans worth $7.5 billion, while $4.5 billion will be allocated to the strategic investment fund.
In front of the Parliament’s Finance and Development Committee, Benchaaboun explained that “in the amended Finance Law, which Parliament approved last July, $1.5 billion was transferred to the fund through the state’s general budget,” indicating that “the remaining three billions will be mobilized in the framework of relations with national or international financial institutions, where partnerships between the state and the private sector will also be established.
Morocco raised the value of public investments through the revised budget to $8.7 billion, which means an increase of about $1.5 billion over the draft finance bill that Morocco started implementing last January. However, investments made by public institutions that have suffered from the repercussions of the crisis have been reduced.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
