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Tuesday, May 21, 2024

Gov’t, Agriculture Professionals Sign Framework Agreement Relating to MAD 10 Bln Rainfall Deficit Impact Reduction Program

Head of Government Aziz Akhannouch presided, on Tuesday in Rabat, over the signing ceremony of a framework agreement between the government and professionals from the agricultural sector, concerning the prospective program to reduce the impact of the rainfall deficit and the global economic situation on agricultural activity, worth 10 billion dirhams.

This program, which is part of the implementation of the High Royal Directives for the establishment of a support program for farmers, has been designed by the government to reduce the impact of drought and the effects of the economic situation, and to restore balance to production chains.

With a budget of around 10 billion dirhams, this program has three main strands: protection of animal capital, protection of plant capital and support for sectors, and reinforcement of Crédit Agricole’s financing capacities.

Under the terms of the agreement, signed in the presence of the Minister of Economy and Finance, the Minister of Agriculture, Maritime Fishing, Rural Development and Water and Forests, and the Minister Delegate to the Minister of Economy and Finance, in charge of the Budget, 5 billion dirhams will be allocated to the protection of animal capital, through subsidizing barley and imported feed for livestock and poultry.

A budget of 4 billion dirhams will be earmarked to protect plant capital and support sectors, by subsidizing the prices of certain inputs, such as seeds and fertilizers, in order to lower production costs for a range of vegetables and fruit. Finally, a budget of 1 billion dirham will be allocated to strengthening the financial capacities of the Crédit Agricole bank, with a view to supporting farmers.

 

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