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Morocco’s Agricultural Investment Stood at $355.4 Million in 2023

Morocco’s Agricultural Development Fund (ADF) has allocated a staggering MAD 3.6 billion ($355.4 million) for agricultural investment in 2023, marking a substantial 38% increase compared to previous averages under the Green Morocco Plan.

According to converging reports, the ADF is allocating 70% of its funds to farmers cultivating plots under 10 hectares. 

Agriculture makes up 13% of Morocco’s national GDP and engages more than a third of the country’s active workforce, making it a pivotal sector in the national economy.

This year’s investment budget is 7% less than last year’s budget and encompasses a wide range of agricultural investments. 56% or MAD 1.8 billion ($177.7 million) of said funds are dedicated to localized irrigation and complementary irrigation.

The fund allocated 12% or MAD 432 million ($42.6 million) towards animal production, and 9% or MAD 324 million ($31.9 million) for farm equipment.

The elevation in subsidy amounts provided by the Agricultural Development Fund, marking a 38% increase compared to the Green Morocco Plan’’s average support of 2.5 billion dirhams, highlights a commitment to furthering direct aid within the agricultural sector. 

Since its inception, the program has directed MAD 15 billion towards direct aid. Launched by the Moroccan government in 2008, the Morocco Green Plan is an initiative that aims to modernize and improve the country’s agricultural sector with a view to promoting sustainable practices and reducing poverty in rural areas.

Yet a recent survey by the Moroccan Center for Citizenship found that an overwhelming majority of Moroccans are not satisfied with Morocco’s Green Plan, with many arguing that it has failed to achieve desired outcomes.

In fact, more than 80% of the survey’s participants said that the plan has failed to improve living conditions in rural areas and enhance food security in the country, while 75.1% said it has failed to provide additional water resources.

Source: Morocco World News