The objective of these agreements is to encourage projects having an impact in terms of sustainable development and protection of natural resources, said Thursday a statement, noting that in the context of the health crisis of Covid-19, an advance payment of MAD 336 million was made on this line of credit in order to facilitate the access of VSE/SMEs to financing.

 "The new line, which has just been granted to the Groupe Crédit Agricole du Maroc -GCAM, consolidates and confirms the lasting relationship between our institution and AFD. We are particularly pleased about this, especially as it is the 4th line that has been set up in our favor", stressed chairman of the GCAM's Management Board, Tariq Sijilmassi, quoted in the statement.

 "This is, for us, a mark of trust on the part of AFD and an undeniable recognition of the solidity of our fundamentals and our business model, which we are proud of in view of the expertise and rigor that characterize this donor's methodological approaches," he said.

 "It will enable us in particular to support and strengthen our actions in support of the agricultural and agro-industrial sectors and to continue to effectively carry out our mission of public service and support for disadvantaged populations," he added.

 "The implementation of this line is taking place under the special conditions linked to the pandemic and we can only warmly thank AFD for its visionary approach and its strong and constant commitment in particular to our Group", noted Sijilmassi.