The African Development Bank (AfDB) Board of Directors approved a €199 million loan on Wednesday in Abidjan to fund Morocco’s Competitive and Resilient Cereal Development Support Program (PADCRC).
According to a statement from the AfDB, this new operation is a part of the African Emergency Food Production Facility, which aims to improve food security, nutrition, and resilience throughout Africa.
Putting an emphasis on productivity improvement and the resilience of cereal production to climate change, the program will assist Morocco in reducing its imports of cereal. According to the same source, it also provides for structural reforms that will lead to more efficient and resilient production systems.
Martin Fregene, Director of the Agriculture and Agribusiness Department at the African Development Bank stated that “with this new program, we share a strong ambition to strengthen the performance of the cereal sector and consolidate its climate resilience through renewed governance,” adding that “our support consolidates previous achievements which, over more than a decade, have enabled the agricultural sector to move from a production logic to a transformation dynamic, which creates many more jobs in rural areas.”
Achraf Hassan Tarsim, the Bank’s Country Manager for Morocco, mentioned that “the loan will help increase cereal productivity by 50%, reduce cereal imports by 20% by 2030 and increase farmers’ incomes.” He also stated that “the project will value and create more jobs for rural youth and women.”
It is noteworthy to mention that the Competitive and Resilient Cereal Development Support Program is line with the African Development Bank ‘High 5’ strategic priorities, which are “light up and power Africa, feed Africa, industrialize Africa, integrate Africa, and improve the quality of life for the people of Africa.” It also aligns with Morocco’s new agricultural strategy, ‘Generation Green 2020-2030.’
With over €12 billion in overall commitments, the African Development Bank has been involved in Morocco for more than 50 years. According to the statement, the portfolio includes areas such as finance, agriculture, human development, energy, and water.