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Home > Economy > Morocco Launches MAD 1 Billion Fund to Support COVID-Hit Tourism Establishments

Morocco Launches MAD 1 Billion Fund to Support COVID-Hit Tourism Establishments

Morocco’s Ministry of Tourism has launched a plan to identify COVID-hit tourism accommodation establishments in need of financial support.

Safaa KasraouibySafaa Kasraoui
Feb, 22, 2022
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Morocco Launches MAD 1 Billion Fund to Support COVID-Hit Tourism Establishments

Morocco Launches MAD 1 Billion Fund to Support COVID-Hit Tourism Establishments

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Rabat – Morocco’s Ministry of Tourism has launched a plan to identify COVID-hit tourism accommodation establishments in need of financial support.

“An amount of [MAD] 1 billion ($106.12 million) has been reserved by the government for this support,” of tourism operators suffering during the pandemic, the Ministry of Tourism said in a communique today.

The program’s implementation followed close consultation with concerned parties, including the Ministry of Economy and Finance and professionals in the sector.

The support program consists of granting a subsidy aimed at improving the quality of the services the accommodation facilities offer.

“The subsidy is granted up to a maximum of 10% of the turnover achieved by the establishment concerned for the year 2019, capped at  MAD 10 million ($1 million),” state media MAP reported.

Moroccan Society of Tourism Engineering (SMIT) is in charge of the support program. 

Tourism accommodation establishments interested in the plan have to send a request to [email protected] for further procedure.

After evaluations by local committees, the results tallied from the combination of several criteria will make it possible to identify and classify the requests.

The Ministry recalled that the government approved MAD 2 billion ($212.24 million)  to support the recovery of the tourism sector impacted by COVID-19 repercussions.

Tourism has been adversely affected by the pandemic, particularly following Morocco’s decision to close air borders for three months on November 29.

It was not until February 7 that Morocco reopened its airspace, allowing international airlines to resume commercial flights.

Tags: Tourismtourism industry in Morocco
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