European Investment Bank lends Morocco 200 million euros to boost agriculture

Agriculture Produce
Agriculture Produce

The European Investment Bank (EIB) and the Moroccan government announced the signature of a 200 million euros loan agreement for financing the development of the North African country’s agricultural sector, Moroccan national radio announced on Thursday.

The radio quoted a joint press release as saying that the loan will “boost the implementation of the new agricultural strategy in Morocco known as the Green Generation 2020-2030.”

Moroccan rural bank Credit Agricole du Maroc (GCAM) will finance through this loan businesses in the agriculture sector with special attention to sectors of sustainable development, it said.

The loan will focus on productive investments that generate jobs and value added, it said, adding that all food production segments such as small farms, agricultural cooperatives, small and medium-sized enterprises, will be eligible for financing.

The EIB has granted Morocco since 2007, more than 5 billion euros of loans, the release said.

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