Highlights

Mr. BOUSSAID presided the signing ceremony of a loan agreement for financing the project of safeguarding Saiss irrigated plain : 29/06/2017

Mr. BOUSSAID presided the signing ceremony of a loan agreement for financing the project of safeguarding Saiss irrigated plain

Mr. Mohammed BOUSSAID, Minister of Economy and Finance, Mr. Aziz AKHANNOUCH, Minister of Agriculture, Maritime Fisheries, Rural Development and Water and Forests, and Mrs. Marie Alexandra Veilleux-Laborie, Director of the Office of the European Bank for Reconstruction and Development (BERD), signed on Thursday 29 June, 2017, in Rabat, the loan agreement financing the project of safeguarding Saiss irrigated plain for an amount of € 120 million, approximately MAD 1.26 billion.

Through granting this loan, BERD also provides its support to accelerate the process of examining a grant of € 32 million from Green Climate Fund.

In his word, the Minister of Economy and Finance stressed the will to move forward in strengthening and deepening the relations between the Kingdom of Morocco and EBRD.

Mr. BOUSSAID also highlighted the experience and expertise of this bank in accompanying the private sector and encouraging Public-Private Partnerships.

Mr. BOUSSAID, who said that this project is part of the Morocco Green Plan, specified that it also meets the targets of the climate strategy adopted by Morocco.

In his intervention, the Minister of Agriculture, Maritime Fisheries, Rural Development and Water and Forests affirmed that the safeguarding project, subject of the signing ceremony, will allow the transformation of Saiss plain.

Mr. AKHANNOUCH further specified that the loan agreement for the project of safeguarding Saiss irrigated plain will benefit 7,157 farms and will concern the development of an irrigation perimeter of 10,000 ha through the exploitation of the water resources mobilized by Mdez dam, i.e. 125 M m3.

The Director of the Office of the European Bank for Reconstruction and Development expressed her great satisfaction regarding EBRD's financing of this project, that she described as a structuring project for the Saiss region and important for Morocco which gives special attention to Morocco Green Plan.

The Saiss irrigated plain safeguarding project aims to fill the water deficit recorded at the level of Fez-Meknes water table, adopt a water-saving irrigation system, exploit the M3 of water consumed by the cultivation of high-value-added crops, intensify agricultural development and improve farmers' incomes.