World Bank backs Morocco’s Generation Green program with line of credit worth $250 million

The World Bank Wednesday announced it approved $250 million in form grant to Morocco for the financing of its Generation Green program in support for rural agriculture.
The North African country will roll out the program in conjunction with French Development Agency, AFD.
Generation Green Program according to the Washington-based institution, will radically change the way Morocco views its agricultural development.
The loan will finance entrepreneurship and training programs for villages’ youth, with a view to attracting private investments into the agricultural food products sector, and removing regulatory and financing obstacles to stimulate the creation of job opportunities, the bank also indicated.
The agriculture sector is the first job generator in the kingdom where it accounts for 38 per cent of the national man-power and contributes to the GDP, 14 per cent.
The loan also, according to the bank, supports the country’s economic response to the coronavirus pandemic.

About Khalid Al Mouahidi 4351 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network