Moroccan fund to combat Covid-19: 15 billion dinars raised with biggest contributions from ANRT, OCP, Al Mada et al

Less than 48 hours after the royal decree was issued to set up a special fund to deal with the health crisis, the 10-billion dirham ($1.03bn) target has been largely surpassed. All the major conglomerates in the kingdom have been mobilised. The biggest contribution has been made by the country’s largest company, OCP Group, to the tune of 3bn dirhams. For its part, the royal holding company Al Mada has put 2bn dirhams on the table, while Bank of Africa, Afriquia and Banques Populaires have each contributed 1bn dirhams. The agricultural mutual insurance company Mamda is to provide 500m dirhams. The Addoha group is providing 250m dirhams while Moulay Hafid Elalamy has announced a private contribution of 200m dirhams. Even some smaller companies have contributed to this fund, such as Azura with 25m dirhams and Atlas Sahara for 15m dirhams.