King Mohammed VI ordered the government to create a $103.5 million solidarity fund on March 16.
Rabat – Morocco’s OCP Group has granted MAD 3 billion (around $310 million) to Morocco’s special fund to face the novel coronavirus (COVID-19) in light of the critical situation of the Moroccan economy and its potential impact on a number of vulnerable families.
The Moroccan government established the fund on March 16 under instruction from King Mohammed VI.
The phosphate giant will provide financial support through its corporate volunteering initiative, Act 4 Community, and its Al Moutmir program, dedicated to supporting the development of agriculture in Morocco.
OCP Group also vowed to mobilize its human and financial capabilities to assist the government’s efforts to overcome the COVID-19 crisis.