Generous Support Surpasses $1 Billion Mark for Morocco’s Earthquake Victims
Rebat: Morocco made an announcement on Tuesday that, within a few short weeks following the devastating earthquake on September 8th, contributions to a dedicated fund for the earthquake victims have surpassed an impressive $1 billion.
Abdellatif Jouahri, the governor of Morocco’s central bank, shared this uplifting news during a press conference in the capital, Rabat, stating, “The total funds collected have reached an astonishing 10 billion dirhams, or approximately $1 billion, just two weeks after the establishment of the special account.”
Jouahri further elaborated on the nation’s plans to address the financial needs arising from the earthquake, saying, “Once the extent of the earthquake’s financial requirements becomes clear, we will evaluate the most suitable financing options, which may include the state budget, the earthquake fund, or seeking international financing.”
He also mentioned the possibility of negotiations with the International Monetary Fund for disaster financing, which could entail an initial withdrawal of $600 million. “It is premature to ascertain the full cost of the earthquake, and we will need to await the conclusion of this year, at the very least, for a more accurate assessment,” Jouahri added.
In response to the tragic events of September 8th, the Moroccan government took swift action by establishing special bank accounts to collect donations from both citizens and local businesses, with the aim of providing much-needed assistance to those affected by the earthquake.
The Moroccan Royal Court, on September 14th, reported that a staggering 50,000 homes had either completely or partially collapsed as a result of the powerful earthquake. In recognition of this devastation, the court announced that direct financial aid amounting to 140,000 dirhams (approximately $14,000) would be allocated for completely collapsed buildings, while partially collapsed houses would receive 80,000 dirhams (about $8,000) in assistance.
According to official figures, the earthquake, measuring a magnitude of 7, claimed the lives of nearly 3,000 people and left many others injured, marking it as the strongest earthquake ever recorded in the country.