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Rabat – The Mohammed V Foundation for Solidarity has donated MAD 10 million to Morocco’s “Special Fund for the Coronavirus Pandemic Management.”
The opening of the special trust fund came at the request of King Mohammed VI, as a means to cushion the economy from the economic shock caused by the global novel coronavirus (COVID-19) pandemic.
The fund also seeks to cover medical supplies as well as upgrades of equipment, as the virus spread across Morocco.
The Moroccan government allocated MAD 10 billion from the state’s general budget.
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The country’s National Airport’s Office (ONDA) has also contributed to the fund with MAD 200 million. An official statement from the body said the donation “stems from the Office’s civic engagement and national solidarity duty in these particular circumstances.”
Senior officers from Morocco’s Royal Armed Forces (FAR) have also contributed to the fund with each contributing one month’s salary. The FAR has also made a direct donation of MAD 100 million.
Advisors to Mohammed V and the Charges de Mission at the Royal Office have also pledged to donate a month’s salary to the fund.
Morocco’s state investment vehicle (CDG), yesterday donated MAD 1 billion to the fund. A statement from the CDG said the group aims to support Moroccan citizens through these difficult times by helping to absorb the economic shock.
Meanwhile, Morocco’s gambling authority (MDJS), Morocco’s leading manufacturer of white sugar (COSUMAR), and Al Omrane group have both made sizable donations.
MDJS donated MAD 100 million ($10.22 million) at the request of the Chairman of its Board of Directors, El Hassan Abyaba, who is also a government minister.
The board of directors of COSUMAR also contributed MAD 100 million to the fund, saying it would support its agricultural partners whose revenue will be damaged by the growing pandemic.
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Finally, Al Omrane group, a real estate developer based in Rabat, has granted MAD 50 million to the fund.
The government has created an account for personal contributions Wednesday, March 18.
All interested individuals are welcome to contribute to the fund by making 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.
