Morocco Tourism Transport Sector Seeks Loan Repayment Extension Amid COVID-19 Crisis
Tourism stakeholders, ministry of tourism officials and the professional group of Moroccan banks organized a virtual meeting on the economic recovery of the sector. During this meeting, tourism transport professionals called for a new moratorium on the repayment of bank loan installments and leasing maturities until December 31, 2020 without payment of fees or penalties for tourism companies and their employees.
This request had been made by the National Federation of Tourist Transport, following the halt of tourist transport fleet activities, the lack of bookings, and the entry of most tourist-sending countries during the second wave of confinement.
For the Secretary General of the Ministry of Tourism, Mohamed Msellek, who chaired the meeting, the ministry is committed to continuing discussions with professionals. He recalled the previous meeting held with tourism transport professionals during which several decisions were made, including the implementation of a banking product that meets the expectations of industry professionals, which will be guaranteed by the State, as well as the postponement of repayment of bank loan installments until the end of December 2021.
In order to respond favorably to their request, he proposed to invite the Professional Association of Financing Companies (APSF) to the next meeting to accelerate the measures agreed with the professionals.
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