Marrakech - The Mohammed VI Fund for Investment (FM6I) and the European Investment Bank (EIB) have signed a mandate letter covering a financing package of 500 million euros (M€) for the Fund.
Signed on the sidelines of the Africa Investment Forum (AIF) in Marrakech, the mandate letter paves the way for a strategic partnership between the two institutions, says the Fund in a press release.
Priority will be given to financing infrastructure projects, deploying innovative financing instruments for Moroccan companies, and supporting the fund of funds’ activity in private equity and venture capital, according to the same source.
It could also be backed by guarantee instruments and technical assistance support, through mobilizing innovative tools currently being structured with the European Commission.
This financing would be added to the fund's current resources of 15 billion dirhams from its initial capital, and would enable it to further strengthen its action and partly meet its fund-raising objective by leveraging its own funds.
This partnership testifies to Europe's strong desire to support the initiatives of the Mohammed VI Fund for Investment in its mission to promote sustainable investment and strengthen the private sector, in line with the objectives of the partnership between the European Union and Morocco.
Source: Agency Morocaine De Presse