Morocco

Saudi Arabia grants Morocco $ 100 mln to combat effects of natural disasters

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Rabat, Nov. 4 (MAP) - Saudi Arabia granted Morocco $ 100 mln to help alleviate the effects of the torrential rains that resulted in floods in several parts of the Kingdom.

King Mohammed VI expressed appreciation and gratitude to the Saudi king Abdullah Ibn Abdelaziz for this noble gesture. The sovereign also issued instructions to set up a special fund to combat the effects of natural disasters.

The fund will be financed by the Saudi donation as well as by a MAD 300 mln ($ 34 mln) allocation by the Moroccan Fonds Hassan II pour le développement économique et social (Hassan II fund for economic and social development), and another MAD 800 mln (91 mln) from the government budget, MAD 200 mln of which to be earmarked as part of the 2009 Finance Bill, and the remainder over 2010-2012.

The fund is designed to finance emergency relief operations and help stricken populations. It will also contribute to developing response systems of different specialized bodies, particularly emergency and rescue units, building prevention installations and setting up warning systems.