AfDB approves €87m financing for social protection

The Board of Directors of the African Development Bank (AfDB) Group has approved financing of 87 million euros for 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 according to a regional approach to the development of social policies, which is more integrated and more inclusive, said a statement from the AfDB on Tuesday.

The program will thus contribute to extending social protection, in particular to early childhood, young people and the self-employed.

Social protection is a major focus of our interventions on the continent. At the service of the well-being of populations, this new program protects at the same time as it releases their potential and improves the quality of human capital.”Martha Phiri, director of the AfDB’s Human Capital, Youth and Skills Development Department, was quoted in the statement as saying.

Its second priority will be to respond to a growing demand for health services through the reorganization of the supply of care and the development of human capital. It also sets itself the objectives of catalysing new investments in health infrastructure, improving the business climate and accelerating economic recovery.

“We are paving the way towards universal coverage”welcomed the Bank’s country manager for Morocco, Achraf Hassan Tarsim.

“Supporting figures, this program will thus benefit eleven million self-employed workers, including 1.6 million farmers, including their dependents”, the official continued, adding that “seven million children and young people will also be covered”.

“It will also make it possible to insure five million self-employed workers and help 20% of workers in the informal sector to migrate to formal, sustainable and more stable jobs”he added.

Responding to the Kingdom’s human development objectives, the project falls within the framework of the Bank’s five strategic priorities aimed at establishing the conditions for sustainable and inclusive growth on the continent.

In half a century of partnership with Morocco, the African Development Bank has committed more than $12 billion to the country. Funding covers the sectors of health, agriculture, energy, water, transport, human development and the financial sector.

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