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80 percent of the funding targeted basic infrastructure 80 percent of the funding targeted basic infrastructure

AfDB Approves Morocco Agricultural Chains Loan

African Development Bank (AfDB) approved a MAD2 billion (USD234 million) loan to Morocco, supporting inclusive and sustainable development of agricultural value chains.

The effort is anticipated to support the creation of jobs in rural areas by developing inclusive value chains that will increase the sustainability and effectiveness of jobs created through green governance and water resource management. It will also finance the implementation of agriculture, environment, employment and vocational training strategies, the bank revealed.

"Creating employment and, in particular, sustainable and quality employment for rural youth and women, is a strategic priority for the AfDB in North Africa,” said Mohamed El Azizi, director general, AfDB, North Africa Region.

The project aims to bring the level of agricultural exports to MAD45 billion (USD 4.7 million) by 2030.