The former Minister of Economy and Finance and current Moroccan ambassador to France, Mohammed Benchaâboun, takes the reins of the Mohammed VI Fund for Investment, a fund on which Morocco is betting to boost growth by financing productive investment. Nadia Fettah Alaoui’s predecessor has been appointed by HM King Mohammed VI as the Fund’s Director General.
The announcement was made at the end of the Council of Ministers held on Tuesday. “Following the work of the Council and in accordance with the provisions of Article 49 of the Constitution, and on the proposal of the Head of Government and the initiative of the Minister of Economy and Finance, His Majesty the King, may God assist him, has kindly appointed Mr. Mohamed Benchaâboun, Director General of the Fund Mohammed VI for Investment, “said the statement of the Spokesman of the Royal Palace, Abdelhak Lamrini.
The Fund Mohammed VI, remember, was announced in 2020 when Mohammed Benchâboun was still Minister of Economy and Finance. With an envelope of 45 billion, including 15 billion as a contribution from the state, this fund, converted into a limited company, is intended to finance productive projects and support the capitalization of national companies.
In accordance with the High Royal Instructions, it will be proceeded to the operationalization of the Fund Mohammed VI and to the dynamization of the public investment, which will be directed towards the projects of infrastructures and the ambitious sectoral strategies, to reinforce the competitiveness of the national product and the national food, sanitary and energy sovereignty.
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