Morocco, IFAD sign loan and grant agreement worth 26 mln dollars
Rome - Morocco and the International Fund for Agricultural Development (IFAD) signed, on Monday in Rome, an agreement of a 25.5 mln dollar-loan and 500,000 dollar-grant aimed at financing the first phase of the mountain zones development program.
Inked by Morocco's ambassador to Italy and the Kingdom's representative to IFAD Hassan Abouyoub and IFAD deputy president Michel Mordasini, the agreement is meant to reduce poverty by 30% by the year 2030 and improve living conditions of population in mountainous regions.
The agreement will benefit a targeted population of 385,000 inhabitants, that is 64,000 households. The program covers 32 communes in the provinces of Sefrou and Azilal where mountainous zones represent 80% of overall surface area.
The loan's terms of reference embodies the outlines of the National initiative for human development (INDH) and the goals of the Moroccan green plan, said Morocco's embassy in a statement after the signing ceremony.
Inked by Morocco's ambassador to Italy and the Kingdom's representative to IFAD Hassan Abouyoub and IFAD deputy president Michel Mordasini, the agreement is meant to reduce poverty by 30% by the year 2030 and improve living conditions of population in mountainous regions.
The agreement will benefit a targeted population of 385,000 inhabitants, that is 64,000 households. The program covers 32 communes in the provinces of Sefrou and Azilal where mountainous zones represent 80% of overall surface area.
The loan's terms of reference embodies the outlines of the National initiative for human development (INDH) and the goals of the Moroccan green plan, said Morocco's embassy in a statement after the signing ceremony.
Source : https://www.emouaten.com/english/Morocco-IFAD-sign...