World Bank loans Morocco $250 million to boost agriculture sector

Photo courtesy: World Bank

The World Bank agreed to grant Morocco $250 million to support its Generation Green program. Generation Green is a joint operation Morocco is doing with the French Development Agency to help attract more Moroccan youth into agribusiness.

The loan will finance entrepreneurship and training programs for Moroccan youth with a goal of attracting private investments into the agricultural food products sector. Morocco also wants to remove regulatory and financing obstacles to stimulate the creation of job opportunities.

Part of the funding will also support the country’s economic response to the coronavirus pandemic.

Agriculture is the main provider of jobs in Morocco and contributes about 14 percent of the gross domestic product (GDP).  Agriculture is an important source of employment for 75 percent of the country’s rural population.

 

Story compiled with assistance from wire reports