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On Wednesday, the Board of Directors of Al Mada, a large private Moroccan holding company mainly owned by the Moroccan royal family, announced that it has decided to make a financial contribution to the special fund for the management of the coronavirus pandemic. Al Mada will donate 2 billion dirhams. The Azura Group will also allocate 25 million dirhams to the fund.
On the same day, Morocco's State Investment Vehicle (CDG) announced its direct contribution to the special fund with a donation of 1 billion dirhams.
Bank of Africa’s CEO Othman Benjelloun announced Tuesday that he is contributing to the Covid-19 fund, created to manage the spread of the virus in the Kingdom, French-language daily L’Economiste reports.
«After consultation with the main shareholders», Benjelloun decided to «dedicate the consolidated profit before tax of the first quarter to the fund created to support businesses», amid the outbreak, the sum would amount to 1 billion dirhams.
For its part, an informed source told Le360 that Afriquia, a subsidiary of Akwa group, would also donate 1 billion dirhams to the fund.
«Afriquia thus interacted with the initiative to mobilize financial resources to fight against this global crisis which is testing the health services as well as the economy of the country», the online newspaper wrote.
The OCP Group will also provide a contribution of 3 billion dirhams to this effort, an OCP official source said on Tuesday.
On Monday, the Association of Regions of Morocco (ARM) announced that it is adding 1.5 billion dirhams to the fund.
For the record, King Mohammed VI ordered Sunday the creation of a special fund dedicated to the management of the coronavirus pandemic.
