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DR
On Thursday, Minister of the Economy, Finance and Administrative Reform Mohamed Benchaaboun and the Director of the Maghreb and Malta signed a development agreement in Rabat with a deferred exposure of $ 275 million for natural disaster risks to the World Bank Jesko Hentschel Department.
At the signing ceremony, Benchaaboun stated that this agreement is a $ 275 million precautionary line that can be used in the event of disaster events and is a guarantee for Morocco, and that this line falls within the framework of the structuring of the managed system in the event of catastrophic events Land through the introduction of a regime to cover the consequences of catastrophic events, which came into force on January 1, 2020.
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This scheme, which covers the entire Moroccan population, consists of an insurance component for people with an insurance contract and a benefit component for people without insurance cover who will benefit from the Solidarity Fund against catastrophic events, said the minister, who financed up to 800 million dirhams from the state budget Fund is supplemented by $ 275 million from the retirement savings line.
Hentschel, for his part, praised the quality and variety of the cooperation relationship between Morocco and the World Bank and welcomed Morocco’s efforts at the institutional level to cover and deal with the consequences of catastrophic events, in particular through the establishment of the Solidarity Fund against catastrophic events.
Regarding the precaution, he noted that it is insurance for Morocco against catastrophic events, adding that the World Bank linked Morocco to climate change, which is of great importance for the future of the EU, in dealing with future risks supported by natural disasters.
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