Rabat - Morocco and the Millennium Challenge Corporation (MCC) signed, here Thursday, the second cooperation program (Compact II) amounting to USD 450 million.
Rabat – Morocco and the Millennium Challenge Corporation (MCC) signed, here Thursday, the second cooperation program (Compact II) amounting to USD 450 million.
The joint declaration on the implementation of the second program was signed by Head of Government Abdelilah Benkirane and MCC Chief Executive Officer, Dana Hyde, at a ceremony held at the Ministry of Foreign Affairs and Cooperation.
Besides the USD 450 million mobilized by MCC under this second program, the Moroccan government is investing USD 67.5 million.
This program will fund, over a period of five years, two projects, namely “Education and training for employability” and “Land productivity”, whose implementation will be entrusted to a Moroccan public institution that will be created for this purpose.
The first project (220 million USD) aims to improve the employability of young people by improving the quality, relevance and equity of access to secondary education and vocational training to meet the private sector needs.
With a budget of USD 170.5 million, the second project aims to increase the productivity of rural and industrial land, as well as private investment.