Morocco’s M6FI gets a boost from the IFC: Morocco’s Mohammed VI Fund forInvestment (M6FI) signed a partnership agreement with the International Finance Corporation (IFC) for support in identifying and financing sustainable infrastructure projects, Morocco World News reported last week. The size and timeline for the agreed plan was not disclosed, in addition to the type of infrastructure projects of interest.

The details: The M6FI will launch a sub-fund to receive investments from both Moroccan and international partners to funnel towards sustainable infrastructure projects. Under the partnership agreement, the IFC will share its expertise in structuring, governance, and financing of infrastructure projects.

About M6FI: M6FI was established in 2020 with an initial capital of MAD 15 bn (USD 1.5 bn), and a goal to bring in MAD 30 bn (USD 3 bn) of additional private capital, according to the news outlet. The fund aims to generate a total investment budget of over MAD 150 bn (USD 15 bn).

REMEMBER- The fund was looking to expand its investments last year, including in renewables: The fund was looking to raise USD 14 bn to ramp up private sector investments, including in renewables projects, the Kingdom’s Investment Minister Mouhcine Jazouli told Bloomberg Asharq at the time. The country expects to raise USD 4.2 bn locally and the remaining USD 8-10 bn from Europe and the GCC.

Tags: