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Morocco And The World Bank Sign A 200-million-U.S.-Dollar Loan Agreement

Morocco and the World Bank signed a 200-million-U.S.-dollar loan agreement to boost Morocco’s agri-food sector.

The deal, inked by Mohamed Boussaid, Morocco’s minister of Economy and Finance, and Marie Francoise Marie-Nelly, director of the World Bank Operations for the Maghreb and Malta, is meant to accelerate the development of Morocco’s agri-business sector and market inclusion of small and medium producers.

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It also seeks to move the sector away from fragmented production to more integrated value chains by promoting an enabling environment for agri-food sector growth, remove barriers to the development of targeted value chains and promote agri-business competitiveness.

Boosting agri-food sector is a key part of Morocco’s ambitious Green Morocco Plan, which aims to strengthen agriculture.

In a statement, Marie-Nelly said the agreement will help support small farmers and set up “take-off structures” for agri-businesses in Morocco.

“With the sector dominated by small enterprises and cooperatives, the program intends to better include small and medium producers in a demanding and fast growing agri-food market,” she said.

For his part, Boussaid welcomed the support of the World Bank for structuring projects implemented by the kingdom.


Written by How Africa

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