Business is booming.

World Bank grants Morocco $180m loan to support agriculture


The World Bank on Monday approved a loan of 180million dollars to Morocco to support its agriculture.

Official news agency MAP reported that the loan aims to enhance the governance of water in agriculture, and improve the quality of irrigation services.

The report said this came as climate change was putting increased pressure on water resources in the North African country.

Morocco witnessed during this year a severe drought and heat waves, which affected the agricultural sector representing 14 per cent of Morocco’s gross domestic product (GDP).

The country’s central bank expects that Morocco’s economy will grow by 0.7 per cent in 2022, down from 2.9 per cent in the earlier forecast and the 7.3 per cent growth in 2021.


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