Unlocking $150 Million: IFAD Partners with Bank Al-Maghrib to Boost Global Food Security

Rabat – The International Fund for Agricultural Development (IFAD) and Bank Al-Maghrib, Morocco’s central bank, are working together again to boost food security and help rural communities worldwide.

This partnership involves a new $150 million sustainable bond with a 10-year term, purchased by Bank Al-Maghrib. This is the bank’s second investment in IFAD’s bond program, following a €100 million investment in July 2024 aimed at development for 2025.

Natalia Toschi, IFAD’s Head of Funding, expressed pride in having Bank Al-Maghrib as a repeat investor. She emphasized the importance of strong, long-term relationships to achieve IFAD’s mission of building a better world.

The funds raised will support small-scale farmers, enabling them to increase their incomes, improve food security, and enhance their resilience to climate change. These investments are crucial for sustainable development and combating poverty and hunger.

Donal Brown, Associate Vice-President at IFAD, highlighted Morocco’s vital role in this partnership. He noted that Morocco has been a key ally for over four decades, recognized for its proactive leadership in rural development and climate resilience.

Since 1979, IFAD has invested more than $1.7 billion in 16 projects across Morocco, reaching over 700,000 rural households. The current initiatives total $250 million and align with Morocco’s “Génération Green 2020–2030” strategy. These projects specifically target support for women and young people in mountainous areas.

Globally, the need for these initiatives is pressing. IFAD reports that about 3 billion people live in rural areas of developing countries, with many being smallholder farmers who produce one-third of the world’s food but still struggle with poverty. Currently, around 730 million people are facing hunger—nearly 1 in 11 individuals. IFAD argues that investing in rural areas is essential for reaching the Sustainable Development Goals (SDGs), particularly SDG 1 (No Poverty) and SDG 2 (Zero Hunger).

Recent studies support this view. A 2023 report by the World Bank highlighted that increasing investment in rural agriculture could significantly reduce global hunger and poverty levels. The ongoing collaboration between IFAD and Morocco is a powerful example of how financial support can lead to meaningful change in communities that need it most.

For more information on IFAD’s efforts, you can check their updates here.

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