Covid-19: For European Union, Morocco Has Reacted Swiftly and Effectively

Brussels - Morocco has reacted swiftly and effectively, by addressing in a coordinated manner the different aspects of the fight against the Coronavirus, medically, economically and socially, said the European Union (EU). In an interview with MAP, EU spokesperson Peter Stano said that Europe, "faithful to the strategic and privileged partnership that links us and to the pioneering spirit that drives it, was there in this ordeal," recalling that nearly 450 million euros were remobilized for this purpose to support the efforts of Morocco, mainly in the form of direct support to the fund created under the aegis of HM King Mohammed VI to combat the impact of the virus or in the form of advance disbursements. "On both sides, the response was quick, concerted and consistent.

This responsiveness and solidarity illustrate the solidity of our ties and the ambition that we have jointly set for the future of our partnership at the lastest EU-Morocco Association Council," added the EU spokesperson. Given as an example in the management of the new Coronavirus pandemic, Morocco received last March significant support from the EU by immediately reallocating 150 million euros, specifically dedicated to the needs of the said special fund, created at the initiative of the Sovereign and redirecting 300 million euros of the allocated funds towards the response to the pandemic by accelerating their mobilization to meet the exceptional budgetary needs of the Kingdom. The European Investment Bank (EIB) Group had announced early April support for the private sector, notably through its lines of credit with Moroccan financial institutions, whose outstanding amount stands at 440 million euros.