IFAD joins efforts with Bank Al Maghrib to ensure food security in rural areas around the world

The International Fund for Agricultural Development (IFAD) and Bank Al Maghrib have partnered for the second time to increase financing for food security in rural areas around the world.

IFAD has issued a $150 million bond with a tenor of 10 years to Morocco’s central bank to support efforts engaged to transform rural areas to make them more productive and prosperous, ultimately improving the livelihoods, food security and resilience of millions of rural people.

Natalia Toschi, Head of Funding at IFAD, said: “Having Bank Al Maghrib as an investor again makes us particularly proud. It shows the value of long-term relationships for IFAD’s global mission that is more than ever important to build a better and more stable world”.

For his part, Donal Brown, Associate Vice-President of IFAD’s Department for Country Operations, said this renewed collaboration builds on IFAD’s longstanding relationship with Morocco, a cornerstone of its portfolio for over four decades.

Morocco stands out not only for the scale of its engagement but also for its visionary leadership in rural development, climate resilience and agricultural transformation, he added.