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France,Luxembourg : 100 million in funding for farmers - EIB and Crdit Agricole Group formalize third tranche of their program.

On the occasion of the International Agricultural Show, the European Investment Bank and the Crdit Agricole Group formalized the release of the third and final tranche of the Crdit Agricole Loan Program - SME Loan and Mid-Cap Agriculture II. This program, launched in 2016 over a period of 3 years, is intended to provide loans on attractive terms to small and medium-sized businesses in the form of loans of 300 million, divided into three tranches of 100 million. agricultural, forestry and fisheries sector

Bank of the European Union, the EIB provides Crdit Agricole with advantageous conditions of refinancing on the markets thanks to its AAA rating. For its part, Crdit Agricole passes on its final loans to agriculture.

Already, 225 million euros have been lent to more than 640 farmers through 27 Regional Banks of Crdit Agricole for an average amount of 350,000 euros. More than 27% of these achievements related to transition projects (24% in the field of anaerobic digestion and 3% in photovoltaics).

"We are delighted with the success of this operation which concretely demonstrates Europe's commitment to support French agriculture in order to also promote the ecological transition and help farmers to build the agricultural model of tomorrow ," he said. the Vice-President of the EIB, Ambroise Fayolle. By providing borrowers with better terms, the EIB and Crdit Agricole Group are key players in the ongoing transformations in the sector and we hope that our partnership will soon lead to other strong initiatives in favor of environmental transition and young people. farmers ".

"We are delighted with the success of this partnership, which meets our objective of providing Crdit Agricole Regional Banks with efficient solutions for our farmer customers. We want to develop this cooperation, especially for young farmers in the context of new funding envelopes " says Jean-Christophe Roubin, Director of Agriculture, Crdit Agricole SA Group

At the 2019 International Agricultural Show, Crdit Agricole confirmed its commitment to the agricultural sector. In addition to this partnership, he committed himself to the Solutions Contract, announced the creation of a transition fund for 200 million, an approach to support the "Bio" projects, his participation in the fundraising campaign. the startup The Green Data and its partnership with the association Bienvenue la ferme and the Chambers of Agriculture.

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Publication:Mena Report
Date:Mar 11, 2019
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