African Development Bank Approves €100 Million Loan to Support Inclusive Agriculture Program in Morocco

Strategic Insights -

The African Development Bank Group has approved a €100 million loan to support Morocco's inclusive solidarity-based agriculture program, which aims to generate sustainable economic opportunities for women and youth, boost food security, and strengthen the resilience of small-scale farming against climate change. The program will focus on empowering women and young people, stimulating entrepreneurship, and deploying new agricultural production and service infrastructure. This loan is a part of the Bank's ongoing partnership with the Kingdom of Morocco, which has been supported for over 50 years.

Key Takeaways:

  • The African Development Bank Group has approved a €100 million loan to support Morocco's inclusive solidarity-based agriculture program.
  • The program aims to generate sustainable economic opportunities for women and youth, boost food security, and strengthen the resilience of small-scale farming against climate change.
  • The program will focus on empowering women and young people, stimulating entrepreneurship, and deploying new agricultural production and service infrastructure.
  • The loan is aligned with Morocco's priorities, including the Green Generation 2020-2030 Strategy, the National Solidarity Agriculture Program, and the National Youth Entrepreneurship Program.
  • The African Development Bank has supported Morocco for over 50 years, investing nearly €15 billion in over 150 high-impact projects.
  • The program will encourage the emergence of women entrepreneurs across agriculture, agro-processing, and digital technologies, and support the new roadmap for employment by promoting rural entrepreneurship.
  • Achraf Tarsim, head of the African Development Bank country office in Morocco, stated that women who have the ambition to undertake and succeed in agriculture are the priority, and that the program will support them in building a modern, inclusive, and resilient agriculture.
  • The program will support the implementation of the Green Generation 2020-2030 Strategy, Morocco's plan for transforming agriculture into a more inclusive, sustainable, and efficient sector.

Sources:

  • APO Group
  • African Development Bank Group (www.AfDB.org)
  • Media contact: Fahd Belbachir, Principal Communication and External Relations Officer (mail to) media@afdb.org
  • About the African Development Bank Group: The African Development Bank Group is Africa's premier development finance institution, comprising three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF), and the Nigeria Trust Fund (NTF).