Rabat – Credit Agricole du Maroc (CAM) signed 21 agreements with various stakeholders from the agricultural sector on Tuesday, March 23, in Rabat, related to Morocco’s Green Generation program.
The symposium in the Moroccan capital took place under the theme “Green Generation: what support can Credit Agricole du Maroc Group (CAM) provide?” The occasion saw the signing of 18 agreements with different interprofessional stakeholders, aiming to support all sectors within the framework of Morocco’s Green Generation 2020-2030 strategy. The deals will allow facilitating access to CAM Group financing.
Within the scope of the partnerships, CAM will mobilize alongside each sector, to offer each a personalized plan to help achieve their objectives as part of the Green Generation strategy. The bank offers to strengthen upstream production and modernize production evaluation tools and marketing channels, and the development of domestic and international markets, as well as other necessary developments.
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The Green Generation strategy that King Mohammed VI launched in February 2020 is Morocco’s most ambitious agricultural program to date. By 2030, Green Generation seeks to repopulate 133,000 hectares of forests destroyed in Morocco over the past three decades. It also aims to plant 50,000 to 100,000 hectares of trees every year.
The strategy’s objectives also include the creation of 27,500 direct jobs in the field of ecotourism. Morocco hopes that the sector will reach an added value of MAD 5 billion ($563 million) by 2030.
In addition to the 18 agreements signed with various stakeholders, CAM also signed two high-level quadripartite conventions with the Ministry of Agriculture, Maritime Fisheries, Rural Development, and Water and Forests, the Federation of Chambers of Agriculture of Morocco, and the Moroccan Confederation of Agriculture and Rural Development. This will allow for the deployment of the new agricultural strategy, particularly within the framework of youth entrepreneurship.
Finally, the last agreement signed was with the Rural Affairs Department, for the mobilization of collective land for the benefit of landholders and the creation of a rural middle class in Morocco. The agreement will define a framework for financing by the CAM Group to help the appropriate stakeholders to launch various income-generating projects and activities.