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AfDB Approves $120 Million Loan for Morocco’s Green Agriculture Initiative
Thursday 25 November 2021, by
The African Development Bank (AfDB) has approved the signing of a new loan agreement for the financing of an agricultural program, amounting to 1.2 billion MAD.
Specifically, this amount will be used to finance the Program to Support Inclusive and Sustainable Development of Agricultural and Rural Areas (PADIDZAR), which is part of the new agricultural strategy "Generation Green 2020-2030," according to a press release from the Ministry of Budget.
This project aims to support small and medium-sized irrigation on about sixty perimeters, taking into account the human element, through capacity building of stakeholders, promotion of employment and agricultural advice, the note adds, stating that it will help strengthen the resilience of Moroccan agriculture to the effects of climate change in order to improve the living conditions of rural populations.
Speaking on the occasion of the signing of the loan agreements, the Delegate Minister in charge of the Budget, Faouzi Lekjaa, welcomed the level and quality of the cooperation relations between Morocco and the AfDB and thanked the institution for the valuable and constant support it provides to Morocco.