Rabat – Since 2019, Morocco’s sustainable development agency (INDH) has funded 125 youth-led business ventures in Guelmim, a city located in the country’s southern provinces.
Under INDH’s Youth Income Improvement and Economic Inclusion Program, over 300 young business makers benefited from the program, covering a total budget of MAD 28 million ($2.7 million), according to official sources.
INDH projects that these investments will positively impact regional economic inclusion, and promote a positive image of local products, agriculture, crafts, and services.
Commenting on the publication of the program’s results, the Secretary-General of the municipality of Guelmim Oued-Noun, underscored the need to coordinate efforts between the different stakeholders to boost economic inclusion among Morocco’s youth.
Of the total funding for the Guelmim projects, INDH contributed MAD 12 million ($1.19 million). 40 of the said projects are scheduled to debut in the course of this year under a budget cover of MAD 7 million ($695,972).
The investments are part of the third phase of INDH’s national strategy for sustainable development.
Launched in 2018, the third phase is focused on human capital as it attempts to fund projects, and level the playing field for young people wanting to join the country’s business landscape.
Within Morocco’s 2022 finance bill, the government allocated over MAD 3 billion ($330 million) to fund INDH programs.
Through its first and second phases, the agency funded more than 43,000 projects between 2005 and 2018.
The founding purpose of INDH is to oversee equitable and inclusive socio-economic development across all regions.
In addition to funding youth-led initiatives, the agency is central to Morocco’s strategy to implement advanced decentralization. By supporting the emergence of regional economic powerhouses, the agency is part of the country’s vision to create economically-autonomous regions.
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