On Wednesday, September, 16, in the presence of the Minister of Agriculture, Maritime Fisheries, Rural Development and Water and Forestry, Aziz Akhannouch, the President of the Executive Board of Crédit Agricole Maroc (CAM), Tariq Sijilmassi, and the Vice-President of the European Investment Bank (EIB), Emma Navarro, signed the financing agreement of 200 million Euros to support agricultural ecosystems.
Affirming that this credit aims to support and accompany the implementation of Morocco’s new agricultural strategy ‘Generation Green 2020-2030’, the two signatories stressed, in a joint statement, that this is “the first partnership between the EIB and CAM to support businesses in the bio-economy and agriculture sector. It covers the financing of agricultural value chains for all types of production and affects the entire related ecosystem”.
All segments of food production, upstream and downstream, are eligible for this loan under the terms of the agreement.
EIB will also mobilize additional resources to support CAM and its clients through targeted technical assistance to support the digitization of this sector and the use of “big data” to develop measures and actions in favor of the environment.
This loan is also part of the ‘Team Europe’ program initiated by the European Union to support partner countries, particularly those outside Europe, in countering the COVID-19 pandemic.