A new €82.6 million agricultural development project financed by the International Fund for Agricultural Development (IFAD) and the Government of Morocco will help 11,200 vulnerable households to increase their productivity and incomes in the face of climate change.
In Morocco, the agriculture sector is the backbone of the economy, contributing 13 per cent to the country’s GDP and generating 85 per cent of jobs in rural areas.
However, the sector is highly vulnerable to climate change impacts, leaving smallholder farmers at risk.
The new Taza Mountain Integrated Rural Development Project for the pre-Rif Region (PRODER-Taza) will help to build the resilience of smallholder farmers in Taza Province, where the agriculture sector is dominated by subsistence farming and the production of rainfed crops.
The financing agreement for PRODER-Taza was signed today by Gilbert F. Houngbo, President of the International Fund for Agricultural Development (IFAD), and Youssef Balla, Ambassador of the Kingdom of Morocco to Italy. Project financing includes a €31.9 million loan and €0.6 million grant from IFAD. The project will be cofinanced by the Government of Morocco (€43.6 million) and the beneficiaries themselves (€6.5 million).