ECONOMY

Support for Businesses: 96,000 Loans Guaranteed by State for Nearly 67 Bln MAD

A total of 96,000 loans have been guaranteed by the State for an amount of nearly 67 billion dirhams, notably within the framework of the “Damane Oxygène” and “Covid-19 auto-entrepreneur guarantee”, said, on Monday in Rabat, Minister of Economy, Finance and Administration Reform Mohamed Benchaâboun.

“Regarding the support for the cash flow of businesses, Damane Oxygène and the Covid-19 auto-entrepreneur guarantee have been set up. To date, a total of 96,000 loans have been guaranteed by the State for an amount of nearly 67 billion dirhams”, indicated the minister in his answer to an oral question about “measures taken by the government to overcome the negative effects of the pandemic on the national economy and public finances”, presented by the Justice and Development group at the House of Representatives.

Benchaâboun, in this sense, recalled that the Kingdom, under the wise leadership of HM King Mohammed VI, has adopted a global and proactive approach to face the social and economic impact of Covid-19, citing the creation of a special treasury account for the management of this pandemic and the Economic Monitoring Committee (CVE).

In addition, the Minister said that “23 billion dirhams were spent by this Fund to support households benefiting and not benefiting from the medical assistance scheme (Ramed), 3 billion dirhams were allocated to the Ministry of Health and we are still financing up to now the immunization expenditure”.

He also underlined the implementation of the ambitious plan to revive the national economy, specifying that in terms of support for companies impacted by the Covid, eight program contracts were signed in favor of certain vulnerable branches of activities and for which the related support measures have been extended to June 30.

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