Highlights

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

04/07/2024
Signing of the financing agreement for the program to support the implementation of the reform of Public Establishments and Enterprises (PEE)

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, signed, Thursday July 04, 2024, a financing agreement in the amount of 350 million dollars. This agreement concerns the program for results aimed at supporting the implementation of the reform of Public Establishments and Enterprises (PEE).

The ceremony was also attended by the Chairman of the Competition Council, the Managing Director of the National Agency for Strategic Management of State Participations and Performance Monitoring of State-owned Enterprises (ANGSPE), the Director of Public Enterprises and Privatisation at the Ministry of Economy and Finance, and senior officials from the Ministry.

In this event, Mrs. FETTAH emphasized that the agreement signed with the World Bank consolidates the exemplary cooperative relationship with this institution, and supports the implementation of the process of reforming the public enterprise sector, launched by the Kingdom in application of the High Royal Guidelines for reforming the public enterprise sector.

This is marked in particular by the adoption and implementation of the framework law no. 50-21 reforming the public enterprise sector and law no. 82-20 creating ANGSPE.

This agreement also follows 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 shareholding policy, as one of the pillars of the reform of the PEE sector.

It 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 PEE reform, the program for results financed by the World Bank aims to support "the strengthening of the State's shareholding functions and the PEE governance framework", "the resizing of the public portfolio and the strengthening of competitive neutrality", as well as "the improvement of PEE performance monitoring, including in terms of climate impacts". 

The program will be implemented over a five-year period by the Agence Nationale de Gestion Stratégique des Participations de l'Etat et de Suivi des Performances des Etablissements et Entreprises Publics, and the Direction des Entreprises Publiques et de la Privatisation (DEPP), in coordination with all relevant stakeholders.