The African Development Bank said on Monday it had approved a loan worth 100 million euros ($116.4 million) to support sustainable farming led by women and young people in Morocco.

The financing is intended to boost food security, and strengthen the resilience of small-scale farming against climate change, the AFDB said in a statement.

"Women who have the ambition to undertake and succeed in agriculture are our priority," Achraf Tarsim, the head of the AfDB office in Morocco, said.

Over five decades, the AfDB has invested 15 billion euros ($17.46 billion) in projects, including transport, water, energy, farming, social protection, governance and finance.