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Business News: Morocco CDG Fund Says It Will Increase 2013 Investments – Bloomberg

 

Bloomberg-Businessweek, by Souhail Karam (June 17, 2013) — Caisse de Depot et de Gestion, Morocco’s biggest institutional fund, said it plans to deliver 52 percent of a five-year investment plan as it boosts spending by the end of 2013.

CDG invested 19 billion dirhams ($2.3 billion) in 2011 and 2012 as part of its plan to spend 65 billion dirhams by 2015, it said in an e-mailed statement yesterday. Investments this year may rise by as much as 15 billion dirhams, it said.

CDG has more than 100 billion dirhams in assets, including over half of the country’s treasury bills and several stakes in stocks listed on the Casablanca bourse, according to data on the fund’s website.

Prominent figures in Justice and Development, the Islamist party leading the government since November 2011, have been critical of CDG Director General Anass Houir-Alami’s record and that of his predecessor.

To contact the reporter on this story: Souhail Karam in Cairo at skaram5@bloomberg.net

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