Moroccan farmers' debts to be alleviated under convention

Morocco's King Mohammed VI, who was accompanied by Prince Moulay Rachid, chaired in Agadir Thursday noon over the signing ceremony of a convention on the alleviation of debts incurred by farmers.

Under the convention between the state and the Caisse Nationale de Cr?dit Agricole (CNCA/farming credit bank), 2.8 billion DH will be earmarked to alleviate the debt burden on farmers operating in dry farming, the state providing 1.2 billion and the CNCA 1.6 billion DH.

Some 120,000 farmers will benefit from the debt alleviation and rescheduling operation.

The convention was signed, on the sidelines of the opening of the 9th session of the Supreme Water and Climate council, by ministers of economy and finance, Fathallah Oualalou, of agriculture and rural development, Ismail Alaoui and of the interior, Ahmed El Midaoui, and by the CNCA general manager, said Ibrahimi.