World Bank extends $180 million loan to Morocco to support sustainable agriculture
The Board of Directors of the World Bank approved Saturday a $180 million loan to Morocco to finance investment projects in resilient and sustainable agriculture in the Kingdom.
The loan, allocated to the Resilient and Sustainable Water Management in Agriculture (RESWAG) project, aims to strengthen the governance of water resources in the agricultural sector, improve the quality of irrigation services and expand farmers’ access to technical advice in this area, said the WB in a press release.
“Climate change and population growth are putting increased pressure on water and land resources in Morocco,” said the press release, adding that the Kingdom is experiencing water shortages due to the lack of rainfall.
“Agriculture is at the heart of Morocco’s economic and social ambitions and this project financing will support this vital sector, in alignment with the country’s Green Generation strategy, the National Water Plan, and the New Development Model,” WB Country Director for the Maghreb and Malta, Jesko Hentschel, was quoted as saying in the press release.
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Besides water management, and providing climate-smart irrigation and drainage services, the WB program will connect over 23,500 farmers with advisory services geared towards optimizing investments, enhancing climate resilience, and improving water productivity, in order to refine and readjust policies with a view to taking climate issues into account, as explained by Rémi Trier, senior specialist in water resources management and co-leader of the project.
It is to be recalled that World Bank Group President David Malpass visited Casablanca and Rabat for a two-day visit on March 22.