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FINANCIAL NEWS
Morocco receives USD56m loan from Europe’s EIB
07 Oct 2012
(MENAFN) Morocco has been granted a USD56 million loan from the European Investment Bank (EIB) to develop its agriculture sector, reported Xinhua News, citing a report by a local radio.
The North African country will use the loan to strengthen and renovate water-saving facilities for irrigation in the regions of Gharb, Haouz and Souss Massa for a better productivity.
The bank has already funded key irrigation projects in Morocco, including the irrigation project in Doukkala for around USD78 million.
It is worth noting that Morocco’s agriculture sector contributed an average of 13.5 percent of the country’s gross domestic product (GDP) between 2006 and 2011, and employs about 40 percent of Morocco’s workforce.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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