Morocco’s Central Bank, Bank Al-Maghrib (BAM), and International Finance Corporation (IFC) sealed, on Wednesday in Rabat, a partnership agreement on promoting agricultural financial inclusion.
This partnership embodies the ambition of the two institutions to promote an innovative financing model to meet the financial needs of small farmers and agricultural value chains, the two parties said in a joint press release.
The agreement thus contributes to Morocco’s national objectives in terms of agricultural financial inclusion and the 2030 food security program.
This partnership covers agricultural technology (AgTech) in Morocco. This activity, in full expansion, contributes to modernizing agricultural practices thanks to advanced technologies.
The combination of resources, experience and expertise will enable farmers to access personalized financial services, thanks to the support of AgTech, whose offerings combine technical advice, relationship management with the players in their value chains, and financial inclusion.
The shared aim of this partnership is to improve the resilience of farms and foster inclusive, sustainable growth.
The agreement covers the mobilization and support of players in the financial ecosystem, the development of new approaches for better use of data on the agricultural sector, and raising farmers’ awareness of the financing options available, ensuring they have the tools they need to make the right decisions.
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