Morocco: AfDB agrees to lend 87 million euros to expand social protection and strengthen health services
MOROCCO, July 13 – The Board of Directors of the African Development Bank Group has approved an 87 million euro loan for the implementation of the Support Program for the generalization of social coverage in Morocco.
The primary objective of this operation is to consolidate the foundations of a viable social protection program based on an integrated and inclusive approach, said a statement from the AfDB on Tuesday.
The program will contribute to extending social protection, in particular for early childhood, young people and the self-employed.
“Social protection is a major focus of our initiatives in Africa,” said Martha Phiri, the Bank’s Director of Human Capital, Youth and Skills Development, quoted in the statement. She added that the new program would protect and unlock the potential of people and improve the quality of human capital.
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 new program will meet the growing demand for health services by catalyzing new investments in health infrastructure, improving the business climate and accelerating economic recovery.
Achraf Hassan Tarsim, the Bank’s country manager in Morocco, said the program would benefit 11 million self-employed people, including 1.6 million farmers – and their dependents, as well as seven million children and young people. It will also provide insurance to five million self-employed workers and help 20% of workers in the informal economy to migrate to formal, sustainable and more stable employment. “We are leading the way to universal coverage,” he added.
The program aligns with Morocco’s human development goals and the Bank’s High 5s strategic objective of fostering sustainable and inclusive growth on the continent.
In a half-century partnership with Morocco, the African Development Bank has committed more than $12 billion to the country. The portfolio covers the sectors of health, agriculture, energy, water, transport, human development and finance.
MAP July 12, 2022