The ADB granted Morocco a donation of approximately 6.4 million dirhams for the promotion of young entrepreneurs : 04/05/2012

The ADB granted Morocco a donation of approximately 6.4 million dirhams for the promotion of young entrepreneurs

The African Development Bank (ADB) granted Morocco a donation of about 6.4 million dirhams to finance the technical assistance project for the promotion of young entrepreneurs in farming.

This donation is part of a support project of 160 sustainable micro-businesses facilities through training, support and technical advice to young farmer entrepreneurs able to contribute to improving the agricultural productivity within the framework of the green Morocco Plan.

This agreement was signed Friday in Rabat by Mr. Nizar BARAKA, Minister of Economy and Finance, and the Resident Representative of ADB in Morocco, Mrs. Amina ABOU ZEID, in the presence of Mr. Driss EL AZAMI EL IDRISSI, Minister Delegate to the Minister of Economy and Finance, in charge of the Budget,

On this occasion, Mr. Nizar Baraka pointed out to the importance of cooperative relations between Morocco and the ADB and highlighted the "constant" support this institution brings to the economic and social development efforts of the Kingdom.

In a statement to the MAP on the sidelines of this ceremony, Mr. Nizar Baraka stressed that small projects that will benefit from this funding were identified by the Agricultural Development Agency, stating that this assistance will help beneficiaries to improve their performance.

This agreement, which aims to contribute to the fight against unemployment among young graduates and promote employment opportunities for the development of agricultural services nearby, is perfectly integrated within the framework of the government`s priority action, he added.

For her part, Ms. Amani stated that the aim of the donation is to support young farmer entrepreneurs through a process of targeted training and technical assistance process for young people`s projects and support post-installation.

"This grant confirms the main objectives of the new strategy of ADB assistance to the Kingdom of Morocco for the period 2012-2016, including the strengthening of governance and social inclusion, as well as the support for the development of "green" infrastructure, she said.

Currently, ADB supports the Government of Morocco`s Green Plan which aims to make agriculture an engine of national growth.

In this case, the Bank financed a project to support the national program plan of water saving of approximately 600 million DH to provide irrigation to 20,000 ha of land located at the areas of action Office of agricultural Development of Loukkos, Tadla, Doukkala and Moulouya regions.

The partnership between the Bank Group and the Kingdom of Morocco goes back to more than 40 years. The asset portfolio of the bank in Morocco consists of 23 projects, including 14 loans and grants for nine net liabilities rising to approximately 22 billion dirhams.

This level of commitment is a telling indicator of a strong and exemplary partnership between the ADB and Morocco.