The World Bank and International Fund for Agricultural Development have announced new funding to support the agricultural sector in Morocco.
Along with approving a $136.7 million development policy loan for urban transport improvement in the African country, the World Bank announced March 15 a similar financing worth €150 million ($209.2 million) to support Morocco’s ”Plan Maroc Vert, a strategy to transform the agri-food sector into a stable source of growth, competitiveness and broad-based economic development in rural areas.
Meanwhile, in Rome, IFAD President Kanayo Nwanze and Hassan Abouyoub, Morocco’s ambassador to Italy, signed a financing deal for a $39.2 million program that aims to promote more profitable agricultural commodities such as olives, almonds, honey and red meat. The project, according to IFAD, will benefit 48,000 poor rural people, including landless farmers and unemployed youth.
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