Crédit Agricole du Maroc: 200 million euros from the EIB to support agricultural ecosystems

The European Investment Bank (EIB) and the Crédit Agricole du Maroc (GCAM) group are strengthening their partnership. The two banks have, in this sense, signed on September 16 a financing agreement of 200 million euros which aims to support Moroccan companies in the sector of bio-economy and agriculture.

This agreement was signed by the EIB Vice-President, Emma Navarro and the Chairman of the GCAM Executive Board, Tariq Sijilmassi, in the presence of the Minister of Agriculture, Maritime Fisheries, Rural Development and Water and Forests, Aziz Akhannouch. First of all, it aims to support and accompany the implementation of the Kingdom’s new agricultural strategy “Green Generation 2020-2020”, indicate the two institutions. In particular, we learn that this line of credit covers the financing of agricultural value chains, all productions combined and affects the entire related ecosystem (production, storage, logistics, packaging, packaging, processing, marketing, etc.).

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It should be noted that all food production segments, upstream and downstream (farms, agricultural cooperatives, economic interest groups, small and medium-sized enterprises, very small enterprises, etc.) are eligible for it. It should be noted that it targets in particular productive investments that generate jobs and added value, in perfect accordance with the guidelines of “Green Generation 2020-2030”. It should be noted that this large-scale support is also part of the mobilization of the European Union (EU) in the face of the pandemic of the new coronavirus (covid-19). Likewise, it should be noted that this is a loan accompanied by technical assistance to support GCAM in the digitization of agricultural value chains and green financing.

The EIB will also mobilize additional resources to support the GCAM 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 agreement is a first step between the GCAM and the EIB in building a solid and lasting partnership for the benefit of the agricultural and rural world. Through this agreement, we wish to further strengthen our support for the agricultural sector, which remains our Bank’s top priority, and, above all, to mobilize more resources to support the country’s new agricultural strategy ”, underlined Tariq Sijilmassi, Chairman of the Management Board. of the GCAM group.

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“The private sector is a priority for the EIB. To this end, we attach particular importance to it and wish, through this partnership, to support small businesses and medium-sized businesses in a key sector for the Moroccan economy. For us, this is a strategic partnership with a major player in the financing of the bio-economy in Morocco ”, for her part, supported the EIB Vice-President, Emma Navarro. For his part, Aziz Akhannouch welcomed the support provided by the EIB and the GCAM to the strategic vision for the agricultural sector “Green Generation 2020-2030”. “This approach is the first action to materialize this new strategy since its launch by His Majesty King Mohammed VI last February,” he said.

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