MCC-Morocco to benefit 600k households

The $ 697.5mln Millennium challenge Compact (MCC), signed between Morocco and the United States, will directly benefit some 600,000 Moroccan households and 3mln people indirectly, CEO of the Agence du partenariat pour le progrès (Partnership Agency for Progress- APP) said on Tuesday.

    In a statement to the press on the sidelines of his working visit to Washington, Morad Abid stressed the importance of the MCC that was "drawn up according to the strategic priorities of the Moroccan government."

    The Moroccan government presented its economic strategy and the Millennium Account Corporation took these priorities into account," APP head explained, noting that the entry into force of MCC-Morocco on September.15 means "the countdown has started" for the five coming years.

   "We (Morocco) are the first beneficiary of the MCC program among 18 countries," Abid said, noting that since the signing of this agreement on August 31, studies on environment and on the social impact have been launched.

    Five major projects are to be funded by MCC-Morocco. This involves fruit-tree growing ($300.9 Mln), small-scale fisheries ($116.17 Mln), artisan and Fez medina ($111.87 Mln), financial services ($ 46.20 Mln), and enterprise support ($33.85 Mln). The Compact also includes approximately $ 88.5Mn for monitoring, evaluation, program administration and oversight.

    The MCC program is based on the principle that aid is most effective when it reinforces good governance, economic freedom, and investments in people that promote economic growth and elimination of poverty. Its contribution to fighting poverty in the world has exceeded $ 6.5 bln.

    Morocco was announced eligible for the Millennium Challenge Compact assistance in November 2005.

MAP