Rabat – The Mohammed VI Investment Fund (FM6I) and the European Investment Bank (EIB) have inked a landmark agreement on the sidelines of the ongoing Africa Investment Forum in Marrakech, pledging a substantial financial package of 500 million euros.
In a statement, the two institutions said the signing of the agreement’s mandate letter signals the initiation of a significant partnership and lays the groundwork for collaborative efforts to catalyze economic development and innovation in Morocco.
According to the statement, the bulk of the funds will be allocated to infrastructure projects, the introduction of innovative financing mechanisms to support Moroccan enterprises, and the strengthening of FM6I’s activities in Private Equity and Venture Capital.
Crucially, this funding initiative may also come bundled with guarantee instruments and technical assistance, leveraging cutting-edge tools currently in development in collaboration with the European Commission.
Adding to the Fund’s existing capital of 15 billion dirhams derived from its initial capital, this injection of funds is poised to amplify the Fund’s impact and contribute significantly to its fundraising objectives.
This collaborative endeavor underscores Europe’s strong commitment to supporting the Mohammed VI Investment Fund in its mission to promote sustainable investment and fortify the private sector. The partnership aligns seamlessly with the overarching goals of the European Union-Morocco partnership, highlighting a shared vision for economic prosperity and sustainable development in the region.
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This financial commitment from the European Investment Bank stands as a testament to the robust intent of Europe to champion the initiatives of the Mohammed VI Investment Fund, setting the stage for a transformative period in Moroccan economic development and private sector growth.
At its core, this strategic alliance underscores the EIB’s unwavering commitment to underpin the Mohammed VI Investment Fund in its mission to champion sustainable investment and fortify the private sector.
In an interview with the Moroccan News Agency (MAP) on the sidelines of the Africa Investment Forum (AIF), Adrien de Bassompierre, the newly appointed president of the European Investment Bank (EIB) representative in Morocco, described Morocco as an extraordinary “gateway” to the African continent.
He further elaborated, stating: “We are working with Moroccan economic players and financial institutions beyond the Kingdom’s borders. This once again demonstrates Morocco’s influence across the continent, in favor of investment.”
The symbiosis between the objectives of this collaboration and the overarching goals of the European Union-Morocco partnership reflects a shared vision for economic resilience and sustainable development.
