Joining a long list of public and private entities that have pledged support to Morocco’s earthquake recovery efforts, the CDG Group, a state-owned financial institution that manages long-term savings in Morocco, has donated MAD 500 million ($48.6 million).
In addition to directly contributing to the special fund, CDG Group committed an additional MAD 10 million ($970,000) to the Mohammed V Foundation for Solidarity.
The earthquake, which struck central Morocco on September 8, brought about widespread destruction and left hundreds of families without a home.
In an official statement reported by Le360, the CDG Group emphasised its commitment to the recovery effort, adding that in addition to financial support, the group is launching a donation drive for essential materials and equipment tailored to the specific requirements of local authorities.
The initiative is already in motion, with the group having already acquired and delivered vital resources such as tables, chairs, whiteboards, portable sanitary facilities, and fire extinguishers to assist temporary schools established by authorities in earthquake-affected regions.
Employees of the CDG Group have equally voluntarily donated a portion of their salaries and are actively participating in on-ground relief efforts alongside local partner organizations.
In the wake of the earthquake that has claimed the lives of nearly 3,000 people and caused significant damage to infrastructure and private property, Morocco’s King Mohammed VI announced on Wednesday an ambitious reconstruction plan under a budget of $11.7 billion.
The five-year plan covers the six provinces and prefectures that were the hardest hit by the earthquake, including Marrakech, Al Haouz, Taroudant, Chichaoua, Azilal, and Ouarzazate.
It also covers mitigation efforts, as it also includes the establishment of large essential reserve platforms to hold tents, blankets, beds, medicines, and food in each region to respond immediately to natural disasters.