Some 100,000 small farmers to benefit from debt cancellation this current season
Morocco, Economics, 5/13/2005

The outstanding debt of some 100,000 small farmers amounting to MAD 3 billion, around 290 million euros, is to be cancelled as one of the measures to mitigate the effects of the current poor agricultural season in Morocco.

The decision was announced at a meeting presided here Thursday by King Mohammed VI to discuss proposals to remedy the difficulties of the 2004-2005 agricultural season.

Tarik Sijelmassi, chairman of the executive board of the "CrŽdit Agricole du maroc" (CAM), said small farmers are eligible for debt cancellation, while other farmers hit by the bad season will benefit from cancellation of overdue interest payback and various fines.

CAM chairman expounded the action plan of this farmers lending body to alleviate the season's effects, including fostering soil conversion through a MAD 4 billion program to plant fruit trees, medical plants, spicesÉ

The action plan also aims to promote investment in irrigation infrastructure and services in the rural world and to incept a new cereal growing five-year revolving credit system.

A structure called "Dar El Fellah," to accompany farmers in building viable agricultural enterprises, was also a proposal presented at the meeting to help some 350,000 farmers during the five coming years.

The sovereign gave instruction at the end of the meeting to present the action program to a cabinet meeting this Thursday with a view to ensure a follow up of the implementation of approved proposals.

Previous Stories:
  King Mohammed VI calls for balanced, viable international agricultural order   (2/5/2005)
  Moroccan edible oil output increased 120 percent in 2003-2004   (9/7/2004)
  Morocco signs Free Trade Agreement with U.S   (6/17/2004)

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