Credit Agricole wins € 200m from the EIB for agricultural ecosystems

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This is the first partnership between the EIB and Credit Agricole du Maro to support businesses in the bio-economy and agriculture sector. It aims to support Moroccos new agricultural strategy “Green Generation 2020-2030”.

The EIB and the CAM, represented respectively by Emma Navarro, Vice-President, and Tariq Sijilmassi, Chairman of the Management Board, proceeded on Wednesday September 16 to the signing of a credit agreement of 200 million euros aimed at strengthening support Moroccan companies in the agriculture and bio-economy sector with particular attention to sustainable development, announces a press release. The signing took place in the presence of Aziz Akhannouch, Minister of Agriculture.

This line of credit is intended to finance agricultural value chains, all types of production, and affects the entire related ecosystem (production, storage, logistics, packaging, packaging, processing, marketing, etc.). All food production segments, upstream and downstream (farms, agricultural cooperatives, Economic Interest Groups, Small and Medium Enterprises, Very Small Enterprises, etc.) are eligible. It targets in particular productive investments that generate jobs and added value, in accordance with the guidelines of “Green Generation 2020-2030”.

The EIB will also mobilize additional resources to support the CAM and its clients through targeted technical assistance which will, on the one hand, support the digitization of this sector and the use of “big data” and, on the other hand, develop measures and actions in favor of the environment.

This funding is also part of the EU’s mobilization in the face of the coronavirus pandemic and more particularly of the “Team Europe” program, created by the European Union with the objective of supporting partner countries, in particular countries outside the EU. Europe, in the fight against this health crisis and mitigate its economic and social effects.

September 16, 2020 at
18:26

Modified September 16, 2020 at 21:12

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