This paper examines agricultural credit as a strategic instrument for agricultural development in Morocco. It argues that credit can contribute to investment, modernization, income growth, and social promotion, but only if it is embedded in a coherent economic and social policy framework. The author reviews the main obstacles that limited the effectiveness of agricultural credit, including inappropriate institutional choices, weak agrarian structures, insufficient organization, limited outreach, and intervention rules poorly adapted to small farmers. The article concludes that a more flexible, decentralized, and development-oriented credit system is necessary if rural finance is to serve the needs of traditional as well as modern agriculture.
T. Masmoudi (Sun,) studied this question.