Morocco to receive USD203m loan from WB| MENAFN.COM

Thursday, 18 August 2022 05:32 GMT

Morocco to receive USD203m loan from WB


(MENAFN) The World Bank's (WB) Maghreb Country director, Simon Gray, stated that the international financial institution will provide Morocco with USD203 million loan to develop the agricultural industry, reported Xinhua News. Gray said that the loan aims at supporting the Green Morocco Plan, a large-scale agricultural program that intends to enhance food security and facilitate the North African country's integration into the global economy. The country's agricultural sector adds 19 percent to the gross national product (GNP), whereas the number of people working in it is more than 4.5 million that will be increased by 1.5 million by the end of the decade. It is worth noting that other goals of the Green Morocco Plan include providing better opportunities to farmers through converting the agri-food sector into a stable source of growth, competitiveness and broad-based economic development in rural regions.


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