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AfDB Grants Morocco €87m Loan To Strengthen Social Protection, Health Services

(AFRICAN EXAMINER) – The African Development Bank (AfDB) has approved an €87 million loan for Morocco to enable the North African nation expand its social protection and strengthen health services.

The loan is aimed at implementing the Support Programme for the Generalization of Social Coverage in Morocco. The primary objective of this operation is to consolidate the foundations of a viable social protection programme based on an integrated and inclusive approach.

The new programme will contribute to extending social protection, particularly for early childhood, young people, and the self-employed.

Its second priority will be to respond to a growing demand for health services by reorganizing the supply of care and enhancing human capital. The programme will also address the growing demand for health services by catalyzing new investments in health infrastructure, improving the business climate and speeding up economic recovery.

The Bank’s Director for Human Capital, Youth and Skills Development Matha Phiri said social protection is a major focus of the AfDB’s initiatives in Africa.

She added that the new programme would protect and unlock people’s potential and improve the quality of human capital.

Similarly, the AfDB’s Country Manager in Morocco, Achraf Hassan Tarsim noted that the program would benefit 11 million self-employed workers, 1.6 million of whom are farmers, and their dependents, as well as seven million children and young people.

“It will also provide insurance for five million self-employed workers and help 20 percent of informal economy workers to migrate towards formal, sustainable and more stable employment. We are paving the way for universal coverage”, he added.

The programme aligns with Morocco’s human development objectives and the Bank’s High 5s strategic goal to foster sustainable and inclusive growth on the continent.

The Bank provided Morocco with more than €380 million through the COVID-19 Response Support Programme and Additional Funding for the Social Protection Support Programme

In a half-century-long partnership with Morocco, the AfDB has committed over $12 billion to the country. The portfolio covers health, farming, energy, water, transport, human development and financial sectors.

Short URL: https://www.africanexaminer.com/?p=78771

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