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    Morocco, AfDB Sign Loan Deals to Boost Agriculture and Social Protection

    Morocco seeks to mitigate the crisis affecting the agriculture sector- one of the key pillars of the country’s economy.

    08 Nov 2022

    Rabat - The African Development Bank and Morocco’s government signed two loan agreements to support cereal production and social protection in the North African country.

    The first agreement concerns an estimated budget of MAD 2.16 billion ($198 million), set to contribute to the implementation of reforms aimed at developing the productivity and resilience of cereal farming to guarantee food security and reduce the country’s dependence on grain imports.

    The second program seeks to support the project of the generalization of social protection as a priority, particularly the achievement of universal health coverage and the generalization of family allowances. The loan that is contributing to the development of the program is set at MAD 944 million.

    Minister Delegate in charge of the budget Fouzi Lekjaa welcomed the level of quality of cooperative relations between Morocco and the African bank, expressing gratitude for the institution’s constant support for Moroccan reforms.

    Resident Representative of the National Office of the African Development Bank in Rabat Achraf Tarsim attended the signing ceremony.

    Agriculture is one of the major pillars of Morocco’s economy. The sector contributed to Morocco’s GDP by 11.68% in 2020.

    However, it is witnessing several challenges amid the worst drought to affect the country in three decades.

    In August, Morocco’s ministry of agriculture is expecting the added value of the country’s agriculture sector to drop by 14% by the end of this year.

    The drop is expected to cause a decline amounting to 1.8 points in agriculture growth, the ministry said, attributing the downbeat development to the low production of cereals in Morocco this season.

    Morocco’s main cereals dropped to 34 million quintals representing a decrease of 67% compared to the previous season.

    Morocco recorded a production level of 103.2 million quintals during the 2020-21 agricultural season.

    In terms of social protection, King Mohammed VI has been calling on the government to implement reforms to give all citizens access to health coverage.

    moroccoworldnews

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