IFAD Issues $150 Million Bond to Bank Al-Maghrib to Fund Food Security Projects
As part of this collaboration, IFAD issued a $150 million sustainable bond with a 10-year term, purchased by Bank Al-Maghrib. This is the second time the bank has invested in IFAD's bond program. The first partnership was in July 2024, when the bank invested €100 million to support IFAD's development efforts for 2025.
'Having the Bank Al Maghrib as a repeat investor makes us particularly proud,' said Natalia Toschi, Head of Funding at IFAD, in a press statement. 'It shows the value of long-term relationships for IFAD's global mission that is more than ever important to build a better and more stable world,' she added.
The money raised will go towards IFAD's work to support rural communities by helping small-scale farmers improve their incomes, food security, and resilience. These investments will also support projects that promote sustainable development and fight poverty and hunger.
Donal Brown, Associate Vice-President of IFAD's Country Operations Department, recalled the strong ties between Morocco and the organization: 'This renewed collaboration builds on IFAD's longstanding relationship with Morocco, a cornerstone of its portfolio for over four decades.'
Brown added that Morocco stands out for the scale of its engagement and 'visionary leadership' in rural development, climate resilience, and agricultural transformation.
Since 1979, IFAD and Morocco have invested more than $1.7 billion in 16 projects across the country, reaching over 700,000 rural households. The current projects, worth $250 million, are aligned with Morocco's 'Génération Green 2020–2030' strategy and focus on supporting women and young people in mountain regions, said IFAD in a statement.
These initiatives are needed more than ever, as IFAD notes that 3 billion people live in rural areas in developing countries worldwide. Many of them are small-scale farmers who produce one-third of the world's food, yet still face poverty and hunger. Around 730 million people today suffer from hunger, nearly 1 in every 11 people. IFAD believes that investing in rural areas is key to achieving the Sustainable Development Goals, especially SDG 1 (No Poverty) and SDG 2 (Zero Hunger). Tags: BAMeconomyfood security
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