World Bank grants Morocco 180-mln-USD loan to support agriculture
RABAT, March 28 (Xinhua) — The World Bank has approved a loan of 180-million-U.S. dollar to Morocco to support its agriculture, official news agency MAP reported on Monday.
The loan aims to enhance the governance of water in agriculture, and improve the quality of irrigation services, as climate change is putting increased pressure on water resources in the North African country, the report said.
Morocco witnessed during this year a severe drought and heat waves, which affected the agricultural sector representing 14 percent of Morocco’s gross domestic product (GDP).
The country’s central bank expected last week that Morocco’s economy will grow by 0.7 percent in 2022, down from 2.9 percent in the earlier forecast and the 7.3 percent growth in 2021. ■
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