Signing of the financing agreement for the support program for the implementation of the reform of Public Establishments and Enterprises (EEP)

HIBAPRESS-RABAT-MEF

The Minister of Economy and Finance, Mrs. Nadia FETTAH, and the Director of the Maghreb and Malta Department of the World Bank, Mr. Jesko HENTSCHEL, proceeded, on Thursday, July 4, 2024, to the signing of a financing agreement in the amount of 350 million dollars, relating to the program for results aimed at supporting the implementation of the reform of Public Establishments and Enterprises (EEP).

During this ceremony, which was also attended by the President of the Competition Council, the Director General of the National Agency for Strategic Management of State Participations and Monitoring of the Performance of Public Establishments and Enterprises (ANGSPE), the Director of Public Enterprises and Privatization at the Ministry of Economy and Finance, as well as senior officials of this Ministry, Mrs. FETTAH stressed that the agreement signed with the World Bank consolidates the exemplary cooperation relations with this institution and intervenes to support the implementation of the EEP reform process, initiated by the Kingdom in application of the High Royal Guidelines relating to the reform of the EEP sector, marked in particular 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 ANGSPE.

This agreement also comes following the approval by the Council of Ministers, on June 1, 2024 under the Presidency of His Majesty King Mohammed VI, may God Assist Him, of the strategic orientations of the State’s shareholder policy, as one of the pillars of the reform of the EEP sector which aims, in particular, to reconfigure the public portfolio and improve its performance and governance, and to promote the participation of the private sector in the investment effort.

Reflecting Morocco’s ambitious commitments to reforming EEPs, the results-based program benefiting from World Bank financing aims in particular to support “strengthening the State’s shareholder functions and the EEP governance framework”, “resizing the public portfolio and strengthening competitive neutrality” as well as “improving monitoring of EEP performance, including in terms of climate impacts”.

The implementation of this program will be spread over five years and will be ensured by the National Agency for Strategic Management of State Participations and Monitoring of the Performance of Public Establishments and Enterprises, and the Directorate of Public Enterprises and Privatization (DEPP), in coordination with all the stakeholders concerned.

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