The special trust fund is set to cover and upgrade the needed medical equipment and to help support the economy.
Rabat – The Royal Moroccan Federation of Cycling (CNOM) and the Royal Federation of Karate (FRMK) have decided to give a combined donation of MAD 3 million ($300,00) to Morocco’s special fund for managing the COVID-19 pandemic.
CNOM is contributing MAD 2 million ($200,000) and FRMK is giving MAD 1 million ($100,000), the federations declared to Maghreb Arab Press (MAP).
King Mohammed VI requested the establishment of a special trust fund on March 15 to upgrade existing medical infrastructure, supply needed medical equipment, and to support the economy after the government shut down businesses like restaurants and suspended air travel, impacting the tourism sector.
Both federations expressed their commitment to the efforts of the Moroccan kingdom in fighting the COVID-19 spread. They urged all Moroccans to join the national effort, MAP added.
In addition, CNOM’s affiliate associations and individual members have contributed to the cause.
The fund, which was created with an initial sum of MAD 10 billion, has grown immensely thanks to contributions from state and private institutions.
On March 18, Morocco’s COVID-19 fund had grown to MAD 15 billion ($1.5 billion) because of donations.
The list of contributors includes banks, parliamentarians, the judiciary, the military, and national security institutions.
The fund will serve all in Morocco and invites contributions from all.
Anyone wishing to contribute to the national solidarity action fund can make a bank transfer to the following account: RIB 001 810 00 780 002 011 062 02 21.
Morocco’s central bank, Bank Al-Maghrib, is administering the account.
A newly created “Economic Monitoring Committee” is collaborating to ensure the fund properly addresses social, economic, and health needs caused by the spread of COVID-19. The committee is composed of representatives from several Moroccan ministries and sectors.