NZWEEK
Souce:Xinhua By Thomas Whittle
RABAT, Oct. 6 (Xinhua) — The European Investment Bank (EIB) has granted Morocco a loan of 43 million euros (about 56 million U. S. dollars) to develop its agriculture and improve the efficiency of irrigation, a local radio reported Saturday.
The loan aims to reinforce Morocco’s water-saving facilities for irrigation in the regions of Gharb, Haouz and Souss Massa, with a goal of modernizing the irrigation system for a better productivity.
The agreement on the loan will accompany the country’s policy for agriculture, a key economic sector that represents an average of 13.5 percent of GDP between 2006 and 2011 and employs around 40 percent of the country’s workforce.
The EIB has already financed major irrigation projects in Morocco, mainly the irrigation project in Doukkala for 60 million euros (about 78 million dollars).
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