Morocco’sHouse of Representatives, the lower chamber of the Parliament, has unanimously approved Draft Law 76.20 establishing the Mohammed VI Investment Fund.Moroccan Parliamentarians voted in favor of the legal text on Monday after a presentation from Economy Minister Mohamed Benchaaboun.According to the bill, the Mohammed VI Investment Fund will take the legal form of a limited company (Societe Anonyme). It will have an initial capital of MAD 15 billion ($1.67 billion) from Morocco’s state budget.The Moroccan state will control the entire capital of the Mohammed VI Investment Fund at its creation. However, other public and private institutions will be able to collectively hold up to 49
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