Signing of two loan agreements for the financing of the program of Support to the Competitive and Resilient Development of Cereals and the program of Support to the Generalization of Social Coverage
07/11/2022
Mr. Fouzi LEKJAA, Minister Delegate to the Minister of Economy and Finance, in charge of the budget, proceeded, Monday 7th, 2022 at 10H30 am, together with Mr. Achraf TARSIM, Resident Representative of the African Development Bank's National Office in Rabat, in the presence of Mr. Mohammed Sadiki, Minister of Agriculture, Maritime Fisheries, Rural Development and Water and Forests, and Mr Khalid Aït Taleb, Minister of Health and Social Protection, signed two loan agreements for the financing of the following programs at the headquarters of the Ministry of Economy and Finance :
- The Support Program for the Competitive and Resilient Development of Cereals (SPCRDC), for an amount of €199 million (about MAD 2.16 billion); and
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The Support Program for the Generalization of Social Security Coverage (PAGCS), for an amount of €87 million (about MAD 944 million).
The objective of the first program is to contribute to the implementation of reforms aiming at the development of the productivity and resilience of cereal farming, to ensure food security and reduce dependence on cereal imports.
The second program is intended to support the priority project of generalizing social protection, in particular by supporting the achievement of universal health coverage, the extension of the pension system, the generalization of family allowances and the improvement of the governance and efficiency of the social protection system.
The Minister expressed his satisfaction with the level and quality of cooperation relations between Morocco and the African Development Bank and thanked the institution, in the person of Mr. Ashraf TARSIM, for the valuable and constant support it provides to Morocco for the implementation of essential structural reforms.
At the end of the event, the Minister and the Resident Representative of the National Office of the African Development Bank reaffirmed their commitment to further strengthen this exemplary cooperation.
A l’issue de cette signature, Monsieur le Ministre et Monsieur le
Représentant Résident du Bureau National de la Banque Africaine de
Développement ont réaffirmé leur volonté d’œuvrer davantage au
renforcement de cette coopération exemplaire.
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