The Mohammed VI Fund for Investment (FM6I), announced the launch of a first call for expressions of interest for the selection of management companies, called upon to create and manage sector or thematic funds, in accordance with the provisions of Law No. 76-20 establishing the Fund.
A press release from the Mohammed VI Fund for Investment specifies that these sectoral or thematic funds are intended to offer Moroccan companies financing solutions to strengthen their equity and enhance their ability to invest, create sustainable jobs and develop in new geographic markets.
These funds will be financed by the Mohammed VI Fund and through the mobilization of national and international, public and private financing. They will focus in particular on the areas of industry, innovation and activities with high growth potential, the promotion of small and medium-sized enterprises, agriculture and tourism.
The management companies of these funds will be selected on the basis of several criteria including the quality of their teams, the robustness of the performances achieved in the management of similar funds and their ability to raise funds from local or foreign investors.
According to the document, they will be called upon to adopt the best standards of responsible investment, in particular in environmental and social matters and to contribute to the improvement of the rules of good governance within the companies invested and to the establishment of a transparent, rigorous and effective management.
And to recall that the objective of the Mohammed VI Fund is to catalyze investment, an essential vector of economic recovery. Its interventions cover in particular the contribution to the financing of structuring investment projects, the strengthening of the equity capital of companies and the establishment of any structured financing mechanism intended to provide them with financing solutions, as well as support for the activities of production.
Endowed with an initial share capital of 15 billion dirhams, it intends to mobilize an additional 30 billion in order to generate an envelope of 120 to 150 billion in investments.
The procedures for withdrawing the specifications, governing the process of selecting management companies for sectoral or thematic funds, are specified on the website of the Mohammed VI Fund for Investment: “www.fm6i.ma”, notes the press release. , specifying that the deadline for submission of application files by tenderers in response to the specifications is set for July 13, 2023.