Accra, July 13, GNA – The Board of Directors of the African Development Bank Group has approved an €87 million loan to implement the Support Programme for the Generalization of Social Coverage in Morocco.
The primary objective of the operation is to consolidate the foundations of a viable social protection programme based on an integrated and inclusive approach.
A statement issued by the Bank said the programme would contribute to extending social protection, particularly for early childhood, young people, and the self-employed.
Madam Martha Phiri, the Bank’s Director for Human Capital, Youth and Development, said
“Social protection is a major focus of our initiatives in Africa.”
She said the new programme would protect and unlock people’s potential and improve the quality of human capital.
She said its second priority would be to respond to a growing demand for health services by reorganising the supply of care and enhancing human capital.
The new programme will address the growing demand for health services by catalysing new investments in health infrastructure, improving the business climate, and speeding up economic recovery.
Mr Achraf Hassan Tarsim, the Bank’s Country Manager in Morocco, said the programme would benefit 11 million self-employed workers, 1.6 million of whom were farmers and their dependents, as well as seven million children and young people.?
He said it would also provide insurance for five million self-employed workers and help 20 per cent of informal economy workers to migrate towards formal, sustainable, and more stable employment.
“We are paving the way for universal coverage.”
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.
In a half-century-long partnership with Morocco, the Bank has committed over $12 billion to the country.
The portfolio covers health, farming, energy, water, transport, human development, and financial sectors.
Source: Ghana News Agency
