"The 2019 Global Health Security Index places Morocco 68th out of 195 countries and 4th in Africa. It is therefore one of the countries best placed to face a health crisis," the AfDB said in a supplement to its annual "African Economic Outlook 2020" report, released on Wednesday.

The health sector is sufficiently prepared to treat sick patients and to protect health workers, the Abidjan-based financial institution said, stressing that, in addition, Morocco quickly set up a special Covid-19 Fund that enabled it to rapidly acquire diagnostic kits and equipment.

"Thanks to specific subsidies, Moroccan companies have increased the production of masks to meet domestic demand and exported surpluses. The wearing of masks is now compulsory," the document added.

Highlighting several measures taken by Morocco to deal with the pandemic, the AfDB pointed out that field hospitals have been set up with the support of the army and that the Economic Monitoring Committee has created social safety nets which included the monthly payment of 2,000 dirhams (about US$203) to employees of companies in difficulty and direct monthly assistance ranging from 800 to 1,200 dirhams (between US$81 and US$216) for workers in the informal sectors.

Support measures for smaller firms include the suspension of social security payments from 1 March to 30 June, a moratorium on bank loans and lease repayments until 30 June, in addition to the establishment of credit lines for firms in difficulty with government support of up to 95% at an interest rate indexed to the central bank's key interest rate.

The AfDB also recalled the suspension of the payment of taxes for companies having declared less than MAD 20 million in gross sales in 2019 and the suspension of customs duties on imports of common wheat until June 15.