IFAD and Morocco sign $25 million dollar deal to finance rural development

This project aims to reduce poverty by 30 per cent by 2030

 
By Vijeta Rattani
Last Updated: Saturday 04 July 2015

Photo courtesy: Jcmendezguz/Wikipedia

The International Fund for Agricultural Development (IFAD), a specialised agency of the United Nations, and the Kingdom of Morocco have signed a $25.5 million deal in Rome to finance the first phase of a rural development programme in Morocco’s mountain zones of Sefrou and Azilal.

The total cost of the project is $50 million, of which a major chunk will be provided by IFAD and $13.5 million, by the Moroccan government.
 
This project aims to build the resilience of communities residing in mountainous areas and develop value chains based on sustainable natural resource use and diversification of the local economy. It will also help the communities adapt to climate change while improving the general wellbeing of the rural poor. An estimated 30,000 households are expected to directly benefit from this project.

The mountain zones of Morocco offer multiple opportunities for agricultural and non-agricultural rural development, with a substantial potential for exports.

IFAD has, in the past, invested $194.6 million in 13 programmes and projects in Morocco.

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