Morocco has subscribed to a €150 million sustainable bond issued by the International Fund for Agricultural Development (IFAD), aimed at financing global rural transformation initiatives.
The bond, equivalent to 1.47 billion dirhams, was announced on Wednesday and was fully subscribed by Bank Al-Maghrib, Morocco’s central bank. This marks IFAD’s 11th sustainable bond issuance and the second Moroccan subscription in less than a year, following a €100 million investment in July 2024.
The move further solidifies Morocco’s position as a strategic African partner of IFAD, with a collaboration spanning over four decades.
Natalia Toschi, Head of Funding at IFAD, welcomed the continued support: “Bank Al-Maghrib’s renewed confidence confirms Morocco’s privileged position among our partners.” She praised the “exemplary collaboration based on a shared vision for rural development and food security.”
Since 1979, the IFAD-Morocco partnership has mobilized more than $1.7 billion across 16 programmes, benefiting over 700,000 rural households. The current portfolio includes three active projects worth a combined $250 million, aligned with Morocco’s “Generation Green 2020–2030” strategy and focusing on women and youth in the most vulnerable rural areas.
Donal Brown, Associate Vice-President of IFAD’s Programme Management Department, highlighted Morocco’s “consistent and wide-ranging commitment, as well as the relevance of its strategies on climate resilience, territorial development, and rural poverty reduction.”
Proceeds from this sustainable bond will support agriculture and food security projects globally, particularly targeting vulnerable rural communities and smallholder farmers, who produce over one-third of the world’s food supply while remaining among the most at risk of poverty and food insecurity.
Through this initiative, Morocco reaffirms its leadership in sustainable finance across Africa and reinforces its commitment to combating global food insecurity.
MK/te/sf/lb/as/APA