Morocco: AfDB supports declining unemployment rate

The African Development Bank (AfDB) agreed Tuesday to back Morocco’s efforts to reduce unemployment with a $96.6-million loan that will support access to jobs and improvement of populations’ living conditions.

Morocco’s minister of economy, Mohamed Benchaaboun, said at the signing of the agreement, the loan is earmarked to improving living conditions through an inclusive job access and the development of skills.

Morocco will use the loan through a three-year (2019-2021) program that will create 100,000 jobs and ensure the training of 111,000 beneficiaries, half of whom are girls and woman.

The loan will back the North African country’s policies seeking to reduce poverty.

The unemployment rate in the kingdom decreased by 0.4 per cent last year compared with 2017 when figures stood at 10.2 per cent.

The High-Commission of Planning said 112.000 jobs were created in 2018 compared to 86,000 two years ago.