Moroccan cooperatives receive $4mn in finance from USAID, GiveDirectly

Moroccan cooperatives receive $4mn in finance from USAID, GiveDirectly
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By Hatem Youssef October 18, 2022

The United States Agency for International Development (USAID) will extend $2mn to support activities of agricultural and agribusiness cooperatives in Morocco hit hard by severe drought, higher inflation and the ongoing effect of the Covid-19 pandemic, the agency said in a statement on Saturday October 15. Another $2mn will be extended by International NGO, GiveDirectly. 

The USAID facility was approved by the US Congress last month under special legislation. It anticipates that more than 330 agriculture and agribusiness cooperatives will benefit from the grants. 

GiveDirectly will provide its funds through the Cooperative Financing Program (CFP). The programme provides MAD90,000 ($8,070) in assistance to cooperatives working in agriculture, handicrafts and tourism. It aims to strengthen household and community resilience to economic shocks. 

The CFP previously provided $5.5mn to assist 4,000 Moroccan farmers in 607 cooperatives in  Morocco’s Marrakech-Safi and Béni Mellal-Khénifra regions. Another 486 cooperatives serving 3,000 people in Drâa-Tafilalet, Fès-Meknès and Oriental regions also benefited from the programme, which facilitated training and equipment/raw materials purchases.


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