AfDB supports Agricultural and Social Security Coverage programs in Morocco with $286 million loans
The African Development Bank (AfDB) will grant Morocco two loans worth $286 million to finance two programs related to the development of cereal growing and the generalization of social coverage.
The first loan, worth €199 million (around MAD 2.16 billion) will go to the Support Program for the Competitive & Resilient Development of Cereals (PADCRC), while the second loan worth €87 million (around MAD 944 million) will finance the Support Program for the Generalization of Social Security Coverage (PAGCS).
The PADCRC, which falls in line with the African Emergency Food Production Facility, is meant to contribute to the implementation of reforms aimed at developing the productivity and resilience of cereal farming, in order to guarantee food security and reduce dependence on cereal imports.
The bank’s support to the PADCRC will impact an “extremely sensitive” value chain, the objectives being to ensure supply, conduct actions with professionals, rebalance the cereal industry and work on aspects of adaptation to cope with the hazards of climate change, commented Minister of Agriculture Mohamed Sadiki.
The second program or PAGCS aims to support the priority area of the generalization of social protection, including support for the achievement of universal health coverage, the extension of the pension system, the generalization of family allowances and the improvement of the governance and efficiency of the social protection system.
The two loan agreements were initialed in Rabat this Monday by Junior Minister in charge of the budget, Fouzi Lekjaa and the Resident Representative of the bank’s Country Office in Rabat, Ashraf Tarsim, in the presence of Ministers of Agriculture and Health Mohammed Sadiki and Khalid Ait Taleb.
Speaking on this occasion, Lekjaa noted that cereal growing has recently experienced disruptions in trade transactions, however, Morocco has reacted with a range of measures to deal with this situation.
Regarding the Support Program for the Generalization of Social Coverage, he said that the government is determined to move forward and implement the reform according to the agenda set by King Mohammed VI.
He also welcomed the level and quality of cooperation relations between Morocco and the AfDB, highlighting the valuable and constant support provided to Morocco for the implementation of essential structural reforms.
