To face exceptional health expenses and support the sectors affected by the crisis due to the Coronavirus, the kingdom has created a special fund endowed with 10 billion dirhams.
In exceptional circumstances, exceptional funds are needed. King Mohammed VI has ordered on March 16th, the immediate creation of a special fund dedicated to the management of the coronavirus pandemic.
Endowed with a budget of 10 billion dirhams, the special solidarity fund has already benefited from contributions from institutions and operators from the private sector. The Afriquia group, for instance, a subsidiary of Akwa Group, announced a contribution of 1 billion dirhams. Bank of Afriquia, through its president Othman Benjelloun, announced a contribution of 1 billion dirhams.
Moreover, the fine imposed on Maroc Telecom (3.3 billion dirhams) will be fully injected into this fund, which also has a contribution from the Fond Hassan II amounting of 1 billion dirhams. Also, the regions will pay 1.5 billion dirhams.
Finally, the royal holding company Al Mada also decided to contribute to the special fund in the form of a donation of 2 billion Dirhams, says a press release from the Holding.
The special allocation account is aimed at meeting exceptional health expenses and supporting sectors affected by the unprecedented crisis linked to Coronavirus.