The Board of Directors of the African Development Bank Group has approved a loan of 84 million euros (approximately 91.2 million dollars) as part of a project to support comprehensive and sustainable development in forest areas in Morocco, targeting nearly 6.5 million residents in rural areas. A statement from the bank, released during its annual meetings for 2024 in Kenya, indicated that this loan aims to enhance the resilience of the Moroccan economy against climate change, improve water production efficiency, and foster entrepreneurship in forestry and aquaculture.
Furthermore, the funding will contribute to the rehabilitation of four Moroccan parks, promote biodiversity through the reintroduction of endangered species, as well as restore land damaged by erosion through biological treatments, and assist young farmers in securing funding for their projects.
Recently, Morocco's Minister Delegate for Budget, Fouad El-Bouhtouri, stated that the country expects its budget deficit to shrink to three percent in 2026 from the four percent forecasted for this year, as rising tax revenues offset increased spending on social safety nets.
