The African Development Bank announced granting 199 million euros (MAD 2.1 billion) loan to Morocco, in a bid to help support food security and reduce its imports of wheat.
The loan also aims to improve the productivity and resilience of wheat cultivation in the face of climate change, amid a drought and lack of rainfall nationwide.
“Through this new program, we share a high ambition, which is to enhance the performance of the grain sector and strengthen its resilience to climate through renewable governance,” said Martin Frijen, Director of the Department of Agriculture and Agro-industry at the African Development Bank.
Previous achievements have enabled over more than a decade to move the agricultural sector from the logic of production to the dynamism of the manufacturing industry, which creates many job opportunities in rural areas, added the same source.
The African Development Bank’s loan supports the new agricultural strategy “Green plan 2020-2030”. The value of the Bank’s operations in Morocco for more than half a century is more than 12 billion euros.
The loans cover several sectors, namely health, energy, water, transportation, human development, agriculture, and the financial sector, according to the same source.
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