SFollowing the instructions of King Mohammed VI, aimed at mobilizing an envelope of 10 billion Dhs to fight against the effects of the drought, Crédit Agricole du Maroc is mobilizing to support the government’s emergency measures and provide aid to farmers and breeders concerned.
The government program will be supported by the CAM to the tune of 6 billion Dhs.
Crédit Agricole du Maroc, a citizen bank, faithful to its public service mission and its permanent support for the rural world, has thus implemented a set of measures which were presented during the interministerial meeting held on Thursday, February 17, 2022 under the presidency of Aziz Akhannouch, Head of Government.
GCAM measures
The mechanism for mitigating the effects of drought and their impacts on farmers, planned by the Bank and its subsidiaries (Tamwil El Fellah), revolves around 3 axes:
1. Establishment of an additional envelope of 6 MMDHS intended for:
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Financing spring crops through the “FILAHA RABIIYA” Product: the bank will grant farmers suitable perimeters, adequate financing for the installation and maintenance of spring crops (market gardening, corn, sunflower, melon, watermelon, etc.) );
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To the financing and maintenance of arboriculture via the “AL GHARS” Product: Crédit Agricole du Maroc will grant arboriculturists funding to continue to ensure the necessary maintenance of their orchards, in particular irrigation, the acquisition of fertilizers , phytosanitary treatments, etc.; and this with the aim of reducing the impact of the rainfall deficit on arboreal activities and safeguarding future production;
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To the contribution to the financing of livestock safeguarding: “LAKSIBA” product: With the aim of helping breeders to safeguard their livestock and to be able to acquire barley (2Dhs/Kg) made available to them by the MAPMDREF services at of the various souks of the Kingdom, Crédit Agricole du Maroc will grant them loans for the purchase of animal feed;
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To the contribution to the financing of the reconstitution of the dairy herd: “HEIFERS” product: In order to remedy the current situation of dairy farms characterized by low birth rates and the prospect of workforce reduction, Crédit Agricole du Maroc will proceed to the implementation of a specific product dedicated to the financing of the acquisition of heifers allowing the reconstitution of the dairy herd;
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Funding to meet 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 .
2. Treatment of farmers’ indebtedness for their upcoming maturities:
In order to support farmers during this difficult campaign, Crédit Agricole du Maroc will initially implement a moratorium as follows:
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For small farmers operating in all agricultural production sectors, the following automatic processing will be carried out:
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Postponement with a one-year shift of the maturities of expired credits;
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Suspension of previously instituted legal actions.
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For other farmers, their debt situation will be examined, on a case-by-case basis, and payment facilities will be granted to them according to their ability to repay.
In a second step and to allow farmers to finance their future campaigns, a reprofiling of indebtedness will be studied to propose optimal and realistic solutions.
3. Financial support for innovative investments in irrigation water:
Crédit Agricole du Maroc will put in place, with the Ministry of Agriculture, Maritime Fisheries, Rural Development and Water and Forests, innovative solutions to finance investments, private or within the framework of Public Private Partnership (PPP). ), aimed at improving access to irrigation water and reducing 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.