Casablanca, April 27, 2020. Africa50, the pan-African infrastructure investment platform headquartered in Casablanca, announces a contribution of 2.5 million DH to the special fund for the management of the Covid-19 pandemic created by the Kingdom of Morocco, to support the country’s efforts in its fight against the pandemic.
This donation is part of the Covid-19 Response Support Initiative launched by Africa50 and through which the institution allocates a contribution of around DH 8 million (US $ 800,000) to support the efforts of countries Africans to stem the spread of the virus and reduce its impact. The first phase will respond to immediate public health needs. It will be followed by the funding of e-health technological solutions. A third phase will focus on long-term solutions designed to support economic stability, including infrastructure needs.
Alain Ebobissé, Managing Director of Africa50, said: “The Kingdom of Morocco is not only our host country and one of our founding shareholders. It is also an essential partner, since the establishment of our headquarters in Casablanca. It is one of the exemplary African countries in terms of modernizing its infrastructure, which is essential for ensuring effective public services, especially in times of crisis. We salute the leadership and the measures taken by the Moroccan authorities in their proactive management of the crisis to combat the virus and manage its socio-economic repercussions. We stand in solidarity with the Moroccan authorities and people, while preparing to support the economic recovery. ”
Africa50 is an investment platform created by African heads of state and the African Development Bank (AfDB), whose mandate is to develop and invest in infrastructure projects with high development impact, through mobilization public and private funds, while offering an attractive return to investors. The priority sectors of its intervention are energy, transport, new technologies, water and the gas midstream. To date, Africa50 has 31 shareholders, including 28 African countries, the African Development Bank, Bank Al-Maghrib and the Bank of West African States (BCEAO), with committed capital of more than 877 million US dollars.