Crédit Agricole Marocain and the EIB have announced a financing agreement of € 200 million to support businesses in the bio-economy and agriculture sector. This partnership is part of the “Generation Green 2020–2030” agricultural strategy to support green agriculture.
Companies in the bio-economy and agriculture sector will benefit from funding of 200 million euros from the European Investment Bank (EIB) through Crédit Agricole du Maroc (CAM). The credit agreement was signed on September 16 in the presence of members of the government and the two entities.
The main objective of this partnership is to support the implementation of Morocco’s new agricultural strategy “Green Generation 2020–2030” launched last February by the government to boost the sector and make it more sustainable. It is also involved in the “Team Europe” program created by the European Union (EU), with a view to mitigating the economic and social effects of the Coronavirus crisis in partner countries.
According to the joint press release of the two signatories, the agreement covers the financing of agricultural ecosystems, including production, storage, logistics, packaging, packaging, processing and even marketing. Eligible enterprises are agricultural holdings and cooperatives, economic interest groups, small and medium-sized enterprises, very small enterprises, etc.
The EIB will mobilize additional resources to support Crédit Agricole du Maroc in the digitization of this sector.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer