Home / Finance & Economy / A loan of MAD 1.2 billion for agriculture between Morocco and the AfDB

A loan of MAD 1.2 billion for agriculture between Morocco and the AfDB

The African Development Bank (AfDB) has granted a loan of MAD 1.184 billion to Morocco. This envelope is intended to finance the Support Program for Inclusive and Sustainable Development of Agricultural and Rural Areas (PADIDZAR).

This climate adaptation project is the first results-oriented financing in the agricultural sector in North Africa. It will help strengthen the resilience of Moroccan agriculture to the effects of climate change in order to improve the living conditions of rural populations.

The said agreement was initialed in Rabat by the Minister Delegate in charge of the Budget, Faouzi Lekjaa, and the resident representative of the National Office of the African Development Bank in Rabat, Achraf Tarsim, in the presence of the Minister of Agriculture, Maritime Fisheries, Rural Development and Water and Forests, Mohammed Sadiki.

This Program, which is part of the new agricultural strategy called “Generation Green 2020-2030”, aims to support small and medium hydropower in around sixty areas with consideration of the human element through capacity building of stakeholders, promotion of employment and agricultural advice.

On this occasion, the Minister congratulated himself on the level and quality of cooperation relations between Morocco and the AfDB and thanked this institution, in the person of Mr. Tarsim, for the precious and constant support that it received brings to Morocco for the implementation of essential structural reforms, notes a statement from the Budget Department.

At the end of this signature, the Minister and the resident representative of the National Office of the African Development Bank reaffirmed their willingness to work further to strengthen this exemplary cooperation.

Check Also

Morocco participates in the meeting of the Visegrad Group

As announced last June, Morocco is taking part this Tuesday, December 7 in Budapest in …

Leave a Reply