The Minister of Economy and Finance, Nadia Fettah, and the Director of the Maghreb and Malta Department of the World Bank (WB), Jesko Hentschel, signed a financing agreement on Thursday, July 4, in Rabat. The agreement amounts to 3.5 billion DH (350 million dollars) and pertains to the support program for implementing the reform of public institutions and enterprises (EEP).
During the signing ceremony, Nadia Fettah emphasized that this agreement was to solidify exemplary cooperation relations with the World Bank to support the implementation of the reform process of public institutions and enterprises (EEP), initiated by the Kingdom following the High Royal Guidelines related to the reform of the EEP sector. This process is marked by the adoption and implementation of Framework Law No. 50-21 on the reform of EEP and Law No. 82-20 on the creation of the National Agency for Strategic Management of State Holdings and Monitoring the Performance of Public Institutions and Enterprises (ANGSPE), according to a statement from the Ministry of Economy and Finance.
The agreement also follows the approval by the Council of Ministers on June 1, 2024, under the presidency of His Majesty King Mohammed VI, of the strategic guidelines for the state’s shareholder policy. This strategy is a pillar of the EEP sector reform, with goals of reorganizing the public portfolio, enhancing governance and performance, and encouraging private sector involvement in investment initiatives.
Reflecting Morocco’s ambitious commitments to EEP reform, the program funded by the World Bank aims to support the “strengthening of the state’s shareholder functions and the governance framework of EEPs,” “reconfiguring the public portfolio and enhancing competitive neutrality,” and “improving the monitoring of EEP performance, including in terms of climate impacts.”
The implementation of this program is planned to take five years and will be managed by the ANGSPE and the Directorate of Public Enterprises and Privatization (DEPP) in coordination with all relevant stakeholders.
The President of the Competition Council, the Director General of ANGSPE, the Director of Public Enterprises and Privatization, as well as senior officials from the Ministry of Economy and Finance, were also present during this ceremony.
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