Global Arab Network | International Fund for Agricultural Development, Morocco to boost rural economy in Taza

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International Fund for Agricultural Development, Morocco to boost rural economy in Taza

Global Arab Network - - Rabih Serrai

Thursday, 17 March 2011 00:26

Rome - The International Fund for Agricultural Development (IFAD) granted Morocco a loan of around 22.5 million dollar to reduce poverty and strengthen the local economy in the mountainous Taza province.

The loan agreement, signed by Morocco's Ambassador to Rome Hassan Abouyoub and IFAD President Kanayo F. Nwanze, also provides for a 0.5 million dollar donation.

IFAD's country programme manager for Morocco, Mounif Nourallah, said the UN-backed anti poverty project is designed to "enhance value-added at the farm level through processing, packaging and direct access to profitable markets."

The project aims notably at increasing production of olives, almonds, honey and red meat.

The two parties also inked a financing agreement for the $39.2 million agricultural value chain development programme, designed to benefit an estimated 48,000 poor rurals.

Under this UN-backed programme, local processing enterprises will receive assistance in developing their own labels and marketing channels for their products, while rural financial services will be strengthened as well.

Global Arab Network

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