Decree on Coronavirus Pandemic Management Fund Signed in Rabat

Rabat - The decree on the creation of the trust fund entitled "Special fund for management of Coronavirus pandemic Covid-19" was signed, on Monday in Rabat, pursuant to the Instructions of HM King Mohammed VI, to ensure the financing of measures to prevent and combat the Coronavirus and its impact. In addition to the general state budget, the fund will also benefit from the contribution of several bodies and institutions, said the Ministry of Economy, Finance and Administration Reform, adding that upon the instructions of the Sovereign, the Hassan II Fund will contribute with up to 1 billion dirhams. A momentum of solidarity is taking place both by legal and natural persons, which will make it possible to mobilize significant additional financial resources in the form of donations, the ministry said in a press release, noting that the methods of collecting these donations, tax deductible, will be specified shortly.

With a budget of 10 billion dirhams, this fund is reserved mainly to cover the costs of upgrading the medical mechanism, in terms of suitable infrastructure and additional means to be acquired, urgently, to treat in good conditions people who are infected with the virus. This fund is also dedicated to supporting the national economy to cope with the shocks induced by this pandemic through measures to be proposed by the CVE, with a view to mitigating notably the social impact, added the same source.