16/05/2023 (Agence Europe) – The European Investment Bank (EIB) and the International Fund for Agricultural Development (IFAD) signed two agreements in Rome on Monday 15 May to strengthen their cooperation in low- and middle-income African countries in line with the EU’s Global Gateway strategy. Under the first, the EIB is providing a €350 million loan to IFAD to strengthen its efforts to help smallholder farmers resist and adapt to climate change and cope with the current global food crisis. In addition, the agreement will tend to preserve natural resources, thereby safeguarding the environment. This is the second funding contract under the framework agreement for the €500 million package announced in November 2022. The first tranche of €150 million was paid in March 2023. (NP)