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Rabat – The African Development Bank (ADB) on Friday granted Morocco a loan of €105mn (about MAD1.2bn), designed for funding the support plan of Morocco’s large-scale agriculture programme known as Maroc Vert (Green Morocco).
The support plan of the Green Morocco programme aims to improve the agricultural production, and the living conditions of the rural population, and to preserve the growingly rare water resources.
The plan creates synergies between the different sectors by associating the economy and the energy dimensions with that of water saving, and through calling in the input of institutions such as the conseil agricole (council of agriculture), and developing agri-centres and insurance in the field of agriculture in order to ensure the successful implementation of the Green Morocco programme.
The load was signed by Economy and Finance Minister, Nizar Baraka and ADB Morocco representative, Amani Abou Zeid. The two official also signed a € 650,000 donation, provided by the Fund for middle-income countries to finance a study on economic growth and jobs in Morocco. The study is due to provide more visibility as to the impact of the economic growth schemes on the job market and suggest options mainly for the institutional promotion of jobs.
Speaking to the press, the two official hailed the relations between Morocco and the African development bank.
“Morocco is the major client of the ADB,” said Abou Zeid, noting that the bank’s assets in Morocco come up to over MAD22bn ($2.5bn).
ADB funds in Morocco projects related to the infrastructure, renewable energies, transports and water, as well as public reforms, the private sector and agriculture.
