African Development Bank Approves EUR100 Million to Empower Women and Youth Entrepreneurs in Morocco

Strategic Insights -

The African Development Bank has approved a EUR100 million loan to support Morocco's inclusive solidarity-based agriculture program, aimed at generating sustainable economic opportunities for women and youth, boosting food security, and strengthening the resilience of small-scale farming against climate change. The program will stimulate entrepreneurship through tailored financing and incentive mechanisms, bolstering technical and financial support systems, and facilitating the deployment of new agricultural production and service infrastructure. This initiative is part of Morocco's strategy to transform agriculture into a more inclusive, sustainable, and efficient sector, and it is aligned with the Green Generation 2020-2030 Strategy.

Key Takeaways:

  • The African Development Bank has approved a EUR100 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 project will stimulate entrepreneurship through tailored financing and incentive mechanisms, bolstering technical and financial support systems.
  • The program will also facilitate the deployment of new agricultural production and service infrastructure, helping to anchor women in local value chains and strengthen their skills.
  • 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 the program will support them step by step to build a modern, inclusive, and resilient agriculture.
  • The program 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 invested nearly EUR15 billion in over 150 high-impact projects in Morocco over the past 50 years, in sectors such as transport, water, energy, agriculture, social protection, governance, and finance.

Statistics:

  • EUR100 million loan approved by the African Development Bank to support Morocco's inclusive solidarity-based agriculture program.
  • EUR15 billion invested by the African Development Bank in Morocco over the past 50 years.
  • Over 150 high-impact projects implemented by the African Development Bank in Morocco across various sectors.
  • 50-year partnership between the African Development Bank and Morocco, based on a shared and integrated vision of development.

Sources:

  • African Development Bank. (July 21) "Morocco: African Development Bank approves EUR100 Million to empower women and youth entrepreneurs in building inclusive and sustainable agriculture."
  • https://www.afdb.org/en/news-and-events/press-releases/morocco-african-development-bank-approves-eu100-million-empower-women-and-youth-entrepreneurs-building-inclusive-and-sustainable-agriculture-85534