Moroccan Parliament Establishes Earthquake Relief Treasury Account

Marrakech – In a significant move aimed at bolstering disaster relief efforts, the Finance and Economic Development Committee of the House of Representatives, the lower house of the Moroccan parliament and the Finance, Planning, and Economic Development Committee of the House of Councillors, the upper house, will convene a joint meeting on Monday, September 11, 2023.

The meeting, scheduled for noon, will be held in Hall 11 at the headquarters of the House of Representatives and is set to announce the creation of a dedicated treasury account known as “the account for managing the consequences of the earthquake in the Kingdom of Morocco.”

This vital step underscores the Moroccan government’s commitment to efficiently and effectively respond to natural disasters, particularly earthquakes, which have the potential to inflict significant damage to lives and infrastructure.

In a joint statement issued, both houses of the Moroccan parliament emphasized that this initiative is in strict accordance with the legal framework set forth in Article 70 of the Constitution and Article 26 of Organic Law 130.13 of the Finance Law.

Article 70 of the Moroccan constitution provides a legal foundation for setting up such dedicated accounts for specific purposes, facilitating focused financial management and allocation of resources in times of crisis.

Meanwhile, Article 26 of the Finance Law establishes the legal framework for the operation and utilization of special treasury accounts, ensuring transparency and accountability in financial matters.

This specialized account is designed to play a pivotal role in channeling resources and coordinating natural disaster management efforts. It is expected to serve as a financial lifeline to fund immediate relief operations, rehabilitation efforts, and reconstruction projects in earthquake-affected regions across Morocco.

Under the leadership of His Majesty King Mohammed VI, the Moroccan government remains steadfast in its commitment to protecting the lives and well-being of its citizens, ensuring rapid and effective responses to natural disasters. The establishment of this treasury account for earthquake relief is seen as a crucial step towards enhancing the country’s disaster management capabilities.

This joint parliamentary meeting will not only signify the launch of this critical initiative but also provide insights into the mechanisms and procedures that will govern the management of the new treasury account.

The meeting is expected to feature discussions on the allocation of funds, the oversight process, and the collaboration between various government bodies to ensure the account’s success.