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Morocco Allocates $450 Mln for Investments in Agriculture

Morocco Allocates $450 Mln for Investments in Agriculture

Sunday, 4 April, 2021 - 11:30
Farmers in the Moroccan town of Moulay Bousselham, Kénitra province. (Reuters)

Morocco allocated $450 million to support investments in agriculture for 2021, a seven-percent increase compared to 2020, according to the Ministry of Agriculture, Fisheries, Rural Development, Water and Forests.

In a statement following the annual meeting of the technical committee of the Agency for Agricultural Development, the ministry said the increase in the 2021 work program reflects the state's ongoing efforts to support investments in agriculture.

The meeting also addressed the achievements of the Agency for the year 2020 and the work program for 2021.

The technical committee welcomed the reforms that focus on the farmer, aim to simplify the procedures and lead to the digital transformation of the services.

The Ministry stressed that there is a continuous increase in agricultural investments, which benefited from the various incentives provided through the Agency.

Agriculture investments increased to $960 million in 2020, and the volume of investment is expected to exceed $1 billion in 2021.

The committee highlighted the achievements made by the Agency through the program to develop food industries, which was jointly implemented between the agricultural and industrial sectors.

The Agency committed to $60 million for the creation or rehabilitation of 178 units for the valuation of fresh agricultural products of plant or animal origin.

The program includes 267 projects, which is 81 percent of its target, with total investments estimated at $750 million, benefiting from public support of $127 million, or 57 percent of the target.

These projects will enable the creation of about 19,850 jobs, or 52 percent of the target, and an additional turnover of about $2 billion, of which 28 percent will be in exports.

The incentives provided through the Fund allowed about 647,000 hectares to be supplied with drip irrigation, which helps the adaptation of national agriculture to climate change.

It also increased the level of mechanization of agricultural farms by supporting the acquisition of 2,600 tractors on an annual average during the period 2010-2020.

The technical committee is chaired by the Ministry of Agriculture and includes representatives from the Ministries of Economy, Finance, Interior and Credit du Maroc Bank.

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