2024-04-23 16:50:00
Agricultural Credit of Morocco (GCAM). Credit: The Desk
Crédit Agricole du Maroc (CAM) and the French Development Agency (AFD) signed two credit agreements this Monday to finance investments “contributing to the resilience and sustainability of the Moroccan economy”.
The program amounts to 70 million euros in loan and 2.1 million euros in technical assistance, it is reported.
It will mainly finance investments in agricultural operations, in particular for the more efficient use of water in agriculture, agroecology and the dissemination of species and varieties resilient to climate change, underlines the press release.
Furthermore, it will make it possible to continue the Istidama program, in support of innovations in rural areas, with the objective of energy savings and the production of renewable energies, the development of organic agriculture and the recovery of waste, continues the source.
Part of the technical assistance will directly support innovative investments, alongside training and awareness-raising actions deployed on the ground for beneficiary farmers, but also within the CAM.
For Mohammed Fikrat, Chairman of the CAM Executive Board, this partnership will strengthen his group’s commitment serving the resilience and sustainability of Moroccan agriculture, “a major lever of rural development and food security”, he specifies.
Quiterie Pincent, director of the AFD representation in Morocco, specifies that this new project mobilizes, in part, financial resources from the Green Climate Fund.
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