Monday, August 2, 2021
HomeFarmWeek NewsWorld Bank grant for Moroccan agri programme

World Bank grant for Moroccan agri programme

The World Bank has agreed to grant Morocco $250 million (£182 million) to support its Generation Green programme.

Generation Green is a joint operation Morocco is carrying out with the French Development Agency to help attract more Moroccan youth into agribusiness.

The loan will finance entrepreneurship and training programmes for Moroccan youth with a goal of attracting private investments into the agricultural food products sector.

Morocco also wants to remove regulatory and financing obstacles to stimulate the creation of job opportunities.

Part of the funding will also support the country’s economic response to the coronavirus pandemic.

Agriculture is the main provider of jobs in Morocco and contributes about 14 per cent of the gross domestic product (GDP).

Agriculture is an important source of employment for 75 per cent of the country’s rural population.

The Green Generation plan hopes to double Morocco’s agricultural output by 2030.

The funding is also part of a move to mitigate the impact of the coronavirus pandemic on the sector, according to World Bank Maghreb director Jesko Hentschel.

Agriculture employs 38 per cent of the work force in Morocco.

The plan has been supported by King Mohammed VI, and also includes agricultural insurance and social protection measures being put in place to benefit the country’s three million farmers.

In addition, Morocco has launched an initiative to protect its nine million hectares of forests, including the planting 130,000 hectares with trees in an initiative that would create 27,000 forest-related jobs.

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