King Mohammed VI of Morocco had in recent months urged measures to promote the development of a rural middle class via promoting agricultural activity and making loans easier to access in the countryside. The new plan is thus designed to foster a rural middle class that will benefit from access to one million hectares after the King gave instructions in that regards in October 2018. The goal is also to boost Morocco’s agricultural exports to 6 billion dollars while bolstering agricultural GDP to 25 billion dollars. The King also urged making loans easier for young entrepreneurs including those in rural areas. The preferential rate offered to young investors and project holders was set at 2% in urban areas and 1.75% in rural areas.

Source: The North Africa Journal February 17, 2020 17:37 UTC