Crédit Agricole du Maroc and the French Development Agency strengthen their partnership for investment and innovation in the service of sustainable agriculture

Hibapress / Abdelkrim Mahyaoui

Crédit Agricole du Maroc (CAM) and the French Development Agency (AFD) signed two credit agreements on April 22 to finance investments contributing to the resilience and sustainability of the Moroccan economy.

Morocco is particularly exposed to the harmful effects of climate change and faces the dual challenge of adapting its agriculture and preserving its food security. The CAM Group is an essential player in financing the investments necessary for the ecological transition. The new financing from AFD strengthens a partnership of more than 10 years between the two institutions.

The program, which amounts to 70 million Euros in loan and 2.1 million Euros in technical assistance, will mainly finance investments in agricultural operations, particularly for the more efficient use of water in agriculture, agroecology and the diffusion of species and varieties resilient to climate change. In addition, it will make it possible to continue the Istidama program, supporting 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.

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.

Mohammed Fikrat, Chairman of the CAM Management Board, specifies: “Thanks to this partnership, the CAM Group will strengthen its commitment to serving the resilience and sustainability of Moroccan agriculture, a major lever for rural development and food security. »

Quiterie Pincent, director of the AFD representation in Morocco, underlines: “We are delighted with the deepening of our partnership with the CAM, on this new project which mobilizes, in part, financial resources from the Green Climate Fund “.

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