The Minister of Economy and Finance, Mohamed Benchaâboun, gave more details on Tuesday about the amount of 6 billion dirhams that the government intends to make available to Royal Air Maroc (RAM).
According to the minister, the government will grant RAM 60% of the financial support intended for its rescue plan, 3.6 billion dirhams in the form of injections of public money into the capital (capital increase) and 2.4 billion dirhams (40% of the total) in the form of credits guaranteed by the State.
“The management of RAM presented a plan with financing needs in terms of debt and capital. It received the government’s agreement subject to respecting the commitments of this plan,” explained Mohamed Benchaâboun. According to him, government support will be gradual. Government support will be provided as the objectives set in the rescue plan are achieved and which will be monitored by a steering committee, the minister assured.