The mission of this Fund is to finance major infrastructure projects through public-private partnerships (PPP), and to strengthen the capital of companies with equity capital needs in order to contribute to their development and the creation of jobs, said Benchaâboun during a presentation before the House of Representatives' Finance and Economic Development Committee, concerning the Strategic Investment Fund.

The selection of projects to be financed will be made on the basis of their impact on employment, he noted, stressing in this regard, the creation of sectoral or thematic funds, intended for investment in infrastructure projects and the promotion of SMEs and innovation.

The Minister also noted that 45 billion dirhams will be allocated to the Strategic Investment Fund, specifying that under the Amended Appropriation Bill 2020, 15 billion dirhams will be allocated to it from the General Budget of the State, while 30 billion dirhams will be mobilized within the framework of relations with national and international financial institutions, in partnership with the private sector.

Benchaaboun added in this regard that the decree creating the Strategic Investment Fund comes in application of the High instructions of HM King Mohammed VI laid down in the Royal Speech addressed to the Nation on the occasion of the 21st anniversary of the accession of the Sovereign to the Throne of His Glorious Ancestors, noting that this Speech carries a strategic vision for the management of the current crisis linked to the coronavirus pandemic.

The Sovereign, the Minister went on, highlighted in His Speech the need to put in place an ambitious plan for economic recovery and a major structural reform in the social field, mainly the generalization of social coverage and the acceleration of public sector reform.

To give concrete substance to the High Royal Guidelines, immediate measures will be taken for a full implementation of the Orientations of HM the King, he said, noting that these measures are based on three fundamental priorities, namely the generalization of social security, public sector reform and the launch of an ambitious plan to revive the economy.

Regarding the social component, the rapid implementation of the generalization of social security will be carried out, which will make it possible to generalize compulsory health insurance (AMO), family allowances and retirement for Moroccan families deprived of social security coverage, the minister said.

The deployment of this reform will be carried out gradually from 2021, over a period of 5 years, and will focus on two phases, he said, noting that the first phase, which runs from 2021 to 2023, will be marked by the deployment of AMO and family allowances, while the second phase (2024-2025) will focus on the generalization of retirement and compensation for loss of employment.