21.3 C
Sunday, May 26, 2024

Morocco-AfDB: Two Loan Agreements Signed to Finance Cereal Production, Social Coverage Programs

Two loan agreements for the financing of two programs on the development of cereal growing and the generalization of social coverage, were signed, Monday in Rabat, by Minister Delegate to the Minister of Economy and Finance, in charge of the budget, Fouzi Lekjaa and Resident Representative of the African Development Bank (AfDB) Country Office in Rabat, Ashraf Tarsim.

These are the Support Program for the Competitive and Resilient Development of Cereals (PADCRC), worth €199 million (around MAD 2.16 billion) and the Support Program for the Generalization of Social Security Coverage (PAGCS), worth €87 million (around MAD 944 million).

The first program 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.

As for the second program, it 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 agreements were signed in the presence of Minister of Agriculture, Fisheries, Rural Development and Water and Forests, Mohammed Sadiki and Minister of Health and Social Protection, Khalid Ait Taleb.

Speaking on this occasion, Lekjaa noted that cereal growing has recently experienced disruptions in trade transactions, stressing, however, that 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 His Majesty King Mohammed VI in His speeches.

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.

For his part, Sadiki said that this loan, which strengthens cooperation between Morocco and the AfDB, affects an “extremely sensitive” value chain with the objectives of ensuring supply, conducting actions with professionals, rebalancing the cereal industry and working on aspects of adaptation to cope with the hazards of climate change.

For his part, Ait Taleb noted that the PAGCS comes at the right time since Morocco is currently undergoing an overhaul of its health system and is working for the generalization of social protection for its citizens, including the generalization of medical coverage, adding that the support of the AfDB “is now necessary for Morocco”.

For Tarsim, these two new strategic projects concretize the strong relationship between the Kingdom of Morocco and the AfDB, noting that the PADCRC is part of the African Emergency Food Production Facility.


- Advertisement -spot_img

More articles


Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article

%d bloggers like this: