The Mohammed VI Investment Fund, created on King Mohammed VI’s instructions, is a promising mechanism for financing major projects, which will bring about sustainable and complete economic recovery.
King Mohammed VI appointed the former Minister of Economy and Finance, Mohamed Benchaaboun, as a General Director of the Mohammed VI Investment Fund.
In this context, Ismael Hammoudi, a Professor of Political Science at the University of Sidi Mohamed Ben Abdallah in Fez, confirmed in a statement to Barlaman Today that the Fund had been announced previously in 2020 and its implementing decree was ratified in February 2021. But, it is by appointing Mohamed Benchaaboun as a General Director of the Fund that it entered into force.
According to the Professor of Political Science, the Fund is a sovereign financial institution for which the state has allocated an initial capital of 15 billion dirhams intending to achieve several things, including financing major investment projects and keeping up with them at the national and territorial levels.
In his statement, he added that the Fund is a tool for the state to work with the private sector and support the capital of micro and medium-sized enterprises. The same source considered the Fund a lever to mobilize additional financing, which would accelerate the pace of investment, either directly by becoming a part of companies’ capital or indirectly by providing support to other enterprises.
Moreover, Ismail Hammoudi said: “As far as I am concerned, the 15 billion dirhams announced from the state’s general budget remains limited, and the fund’s capital should be raised to 45 billion as expected according to the previous government.”
He pointed out that the Fund is a mechanism for overcoming the reality of the current crisis, resulting from the effects of the coronavirus and international policy fluctuations. Still, it could also be a tool for sustainable development if those in charge of it can achieve the goals set by the law governing the Fund.