Morocco, AfDB Ink €114.03 Mln Financing Agreement

Morocco and the African Development Bank (AfDB) inked a financing agreement for an amount of 114.03 million euros (1.184 billion dirhams), for the Support Program for Inclusive and Sustainable Development of Agricultural and Rural Areas (PADIDZAR).

The said agreement was signed last Tuesday in Rabat by the Minister Delegate in charge of the Budget, Faouzi Lekjaa, and the resident representative of the African Development Bank's National Office in Rabat, Achraf Tarsim, in the presence of the minister of Agriculture, Fisheries, Rural Development, and Water and Forests, Mohammed Sadiki, the ministry said in a statement.

The program, which is part of the new agricultural strategy called "2020-2030 Green Generation", aims to support small and medium hydropower on about sixty perimeters with the consideration of human capital through capacity building of stakeholders, the promotion of employment, and agricultural advice, said the same source.

"On this occasion, the minister welcomed the level and quality of cooperation relations between Morocco and the AfDB and thanked the institution, in the person of Tarsim, for the valuable and unwavering support it provides to Morocco for the implementation of essential reforms," added the statement.

The minister and the resident representative of the National Office of the African Development Bank have reiterated their willingness to work further to strengthen this exemplary cooperation, concluded the statement.

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