Cumulative donations from Moroccan companies, banks, and institutions into the Special Fund for the Management and Response to COVID-19 reached MAD 15 billion as of today, March 18.
Rabat – The fund, which was created with an initial sum of MAD 10 billion, has grown immensely thanks to contributions from several state and private institutions.
Societies and Moroccan businesspeople have demonstrated patriotism and unity by dedicating a percentage of their wealth or profits to the public interest.
The government also created an account for personal contributions today, March 18. All interested individuals are welcome to contribute to the fund, and guidelines for doing so are outlined below.
The fund has secured notable corporate and institutional donations.
Petroleum company Atlas Sahara, which operates in the Western Sahara, allocated MAD 15 million as a contribution to the fund. Derhem Holding owns Atlas Sahara.
CDG, a state-owned financial institution that manages long-term savings in Morocco, has donated MAD 1 billion.
CIH Bank announced a donation of one-third of its net profits from the year 2019. This amounts to an additional MAD 150 million.
MAMDA-MCMA, one of Morocco’s oldest insurance companies, mobilized MAD 500 million.
Al Mada, a royal conglomerate, contributed MAD 2 billion.
The Azura Group, which operates in the agricultural sector, decided to contribute MAD 25 million.
Lamalif Group, which operates in the public lighting and urban planning sector, announced a contribution of MAD 2 million.
The National Agency for Land Conservation, Cadastre, and Cartography (ANCFCC) donated MAD 1 billion.
Carrefour market Label’vie contributed MAD 50 million.
Moroccan businessman Anas Sefrioui donated MAD 200 million.
The OCP Group contributed MAD 3 billion.
Bank of Africa and Banque Centrale Populaire (BCP) each contributed MAD 1 billion.
Afriquia, a subsidiary of the Akwa Group, made a contribution of MAD 1 billion.
The Association of Regions of Morocco (ARM) announced Monday, March 16 that it donated MAD 1.5 billion.
The Hassan II Fund contributed MAD 1 billion. This specific donation will mobilize financial resources in the form of grants.
One-third of the MAD 3.3 billion fine issued to Maroc Telecom by the National Telecommunications Regulatory Agency (ANRT), amounting to MAD 1.1 billion, will also be allocated as a contribution to the Fund.
The fund will serve all in Morocco, and invites contributions from all.
Anyone wishing to contribute to the national solidarity action fund is invited to make a bank transfer to the following account: RIB 001 810 00 780 002 011 062 02 21. The account is administered by Morocco’s central bank, Bank Al-Maghrib.
The fund is reserved in part to cover the costs of upgrading medical infrastructure and securing the necessary means, urgently needed, to properly treat those affected by the virus.
The special fund will also support the national economy as it suffers shocks induced by the pandemic.
The newly created Economic Monitoring Committee is composed of representatives from several Moroccan ministries and sectors. The committee is collaborating to ensure the fund properly addresses social, economic, and health needs caused by the spread of COVID-19.