The fund is intended to preserve employment and support the national economy.
Rabat – Moroccans have multiplied solidarity initiatives to alleviate the impact of the novel coronavirus on Moroccans’ livelihoods and on the national economy.
Afriquia Gas, Bank of Africa, Parliament Members, government officials, and Moroccan communication watchdog, National Telecommunications Regulatory Agency (ANRT), have all decided to grant a sum of money to help the state address challenges related to the novel coronavirus (COVID-19) spread in Morocco.
MAD 1 billion was secured by Afriquia gas (owned by Aziz Akhannouch) while ANRT granted one-third of Maroc Telecom’s fine (MAD 1.1 billion) to the special fund. Maroc Telecom was fined MAD 3.3 billion ($341.66).
Bank of Africa (owned by Othman Benjelloun) decided to allocate its profit from the first quarter of 2020 as a contribution to the special fund, created March 16 as an initiative of King Mohammed VI.
The Minister of Industry, Trade, Green Economy, and Digital Moulay Hafid Elalamy also contributed with MAD 200 million ($20.7 million) to the fund.
Government officials, members of the House of Councilors, and members of the House of Representatives also announced in a statement that they will contribute to the fund with their monthly wages.
Regions are also participating in the solidarity initiative with a financial contribution of MAD 1.5 billion.
The fund will cover the costs of upgrading medical infrastructure and additional means to address a possible future emergency. The fund will also preserve employment and support the national economy and vulnerable sectors, including the tourism sector.
With the same sense of patriotism and solidarity, and by their own initiative, the 22 heads of Morocco’s public and private universities announced their donation of one month’s salary to the benefit of the Special Fund for the Management and Response to COVID-19.
All officials, general managers, and managers in the energy, minerals and environment sectors also decided to contribute to the fund.