Committed to supporting the development of the rural world: Crédit Agricole du Maroc, the privileged partner of Moroccan agriculture

Faithful to its mission of supporting the rural world, Crédit Agricole du Maroc is fully committed to implementing the government's plan to combat drought. The main financial partner of national agriculture has mobilized, in this regard, an additional envelope of 6 billion dirhams to support the government's emergency measures and provide aid to the farmers and breeders concerned. Referring to the management of Crédit Agricole du Maroc, this envelope was designed in line with the current situation, so that loans are distributed according to the evolution of climatic conditions. For the Banking Group, this support tends to strengthen the farmer's confidence in the future and send him a message of hope. Crédit Agricole du Maroc thus reaffirms its full, unconditional solidarity with the rural world, particularly during the hard times. 4 financing products available The mobilization of the 6 billion dirhams is indeed one of the 3 main axes around which the system for mitigating the effects of drought and their impacts on farmers set up by the banking group and its subsidiaries (Tamwil El Fellah). With regard to the financing axis, the Crédit Agricole Group in Morocco is offering the “Filaha Rabiya” product in this sense, thus providing support for spring crops. In this regard, the Bank undertakes to grant farmers in suitable perimeters adequate financing for the establishment and maintenance of spring crops, such as market gardening, corn, sunflower, melon and watermelon. The Group also provides farmers with “Al Ghars”, a product dedicated to the financing and maintenance of arboriculture. Thus, Crédit Agricole du Maroc will grant arboriculturists financing to continue to ensure the necessary maintenance of their orchards, in particular irrigation, the acquisition of fertilizers, phytosanitary treatments, etc. The purpose is to reduce the impact of the rainfall deficit on arboreal activities and safeguard future production. To contribute to the financing of livestock protection, Crédit Agricole du Maroc has included the “Laksiba” product in its system.This offer aims to help breeders safeguard their livestock and be able to acquire barley (2DH/kg) made available to them by the services of the Ministry of Agriculture, Maritime Fisheries, Rural Development and Water and Forests in level of the various souks of the Kingdom. In this regard, Crédit Agricole du Maroc will grant this category of farmers credit for the purchase of animal feed. Through its “Heifer” offer, Crédit Agricole du Maroc has set up a specific product dedicated to financing the acquisition of heifers, thus allowing the reconstitution of the dairy herd. The Group also undertakes to finance the meeting of the needs of the national market in cereals and livestock feed, in consultation with the services of the Ministry of Agriculture and according to control and monitoring mechanisms agreed with the services concerned and in particular Onicl. Moratoriums for the benefit of farmers The second axis of Crédit Agricole du Maroc's system is the treatment of farmers' indebtedness for their future maturities. The commitment is to support farmers during this difficult campaign. To this end, the Banking Group has implemented a moratorium for small farmers operating in all agricultural production sectors. This concerns the postponement with a one-year lag of the maturities of credits due, as well as the suspension of legal actions previously brought. For other farmers, their debt situation is examined on a case-by-case basis in order to determine the payment facilities to be granted to them, according to their ability to repay. In addition, the Banking Group is planning a reprofiling of debt in order to offer farmers optimal and realistic solutions and therefore enable them to finance their future campaigns. Towards the promotion of innovative investments The Crédit Agricole du Maroc program also covers financial support for innovative investments in irrigation water. The Group is thus setting up, with the Ministry of Agriculture, Maritime Fisheries, Rural Development and Water and Forests, innovative solutions to finance private investments or within the framework of public-private partnerships (PPP), aimed at improve access to irrigation water and reduce its cost. This funding may concern, beyond traditional investments, local desalination units, in particular water resources from brackish groundwater in the regions of Doukkala and Oriental, or conversion to solar energy to reduce the pumping cost. It should be noted that the banking group is committed to supporting the next steps through the implementation of optimal solutions to enable farmers to continue their activities and deal with their debt. The Group is currently examining all possible means in coordination with the Department of Agriculture to start the next campaign in the best conditions. Sustained support for the agricultural sectors During 2021, Crédit Agricole du Maroc conducted a cycle of meetings with all the inter-professions. It is indeed a participatory approach initiated by the Banking Group in partnership with the Ministry of Agriculture, Maritime Fisheries, Rural Development and Water and Forests and the Moroccan Confederation of Agriculture and Development rural (COMADER). The goal is to facilitate the implementation of the new agricultural strategy Al Jayl Al Akhdar 2020-2030 and best meet the different needs of farmers and the specificities of each sector. It is with this in mind that Crédit Agricole du Maroc organized, in partnership with the supervisory authority and the Federation of Moroccan Chambers of Agriculture, a symposium on the theme “Green Generation: what support from Crédit Agricole du Maroc?” . About twenty agreements were signed on the sidelines of this event. We can cite in this sense the conclusion of 18 memorandums of understanding with each of the interprofessions. The purpose is to support the sectors in the implementation of the objectives set within the framework of their 2021-2030 program contracts. The Crédit Agricole du Maroc Group has also entered into two agreements with the Ministry of Agriculture, Maritime Fisheries, Rural Development and Water and Forests, the Moroccan Confederation of Agriculture and Rural Development and the Federation of Chambers of agriculture of Morocco. These agreements relate to support for the implementation of the Generation Green 2020-2030 strategy as well as the implementation of specific support for young agricultural entrepreneurs. Similarly, Crédit Agricole du Maroc has signed an agreement with the Department of Rural Affairs and the National Agency for Land Registry, Cadastre and Cartography. A partnership which tends to ensure the financing and the accompaniment by the bank of the having rights, beneficiaries of the operation of melkisation. Tasbiq Tasdir, a new export pre-financing product Among the flagship products launched in 2021 by Crédit Agricole du Maroc is Tasbiq Tasdir. This international financing supports agricultural exporters in order to face certain new constraints arising from the health situation. In this sense, we can cite the costs linked to export and sea or land freight or those of inputs, in particular packing and packaging. With this in mind, the banking group has redefined its overall support system by adapting its pre-financing for exports. Referring to the Banking Group, “Tasbiq Tasdir is a cash loan which allows the pre-financing of the export campaign in dirhams or in foreign currencies and covers all operations related to export. It can be combined with term hedging for exchange risk management and will be granted at an advantageous rate, ranging from 3.75% excluding tax to 4.25% excluding tax depending on compliance with the eligibility criteria and the formula chosen. by the operator”. And to specify that “if the credit is denominated in foreign currencies, it will be granted at an advantageous rate in relation to the rates in force for the chosen currency”. Overall, Tasbiq Tasdir is intended for operators of all sizes, including farmers, cooperatives, economic interest groups, packing stations and aggregators. Tasbiq Tasdir thus complements and enriches the product offer for upstream agricultural players to give them the best chance of succeeding in their export campaign.