Posted on April, 25, 2024 at 08:36 am
Faced with the negative effects of climate change on agriculture, such as lower crop yields and changes in the ability of plants to retain and use moisture, Crédit Agricole du Maroc (CAM) wants to increase the investment allocated to farmers in order to strengthen their resilience. To achieve this, the publicly-owned Moroccan bank is counting on its new programme focusing on climate change and food security, launched at the village of the 16th edition of the Salon international de l’agriculture au Maroc (SIAM), on 22 April 2024.
Valued at 72 million euros, the initiative will be mainly supported by the French Development Agency (AFD), in line with a 10-year partnership between the financial institution and the CAM that was strengthened in Meknes, the host city of SIAM 2024, with the signing of two agreements. The agricultural showcase closes on 28 April.
Co-financed by the Green Climate Fund (GCF), this new programme for investment and innovation in sustainable agriculture in Morocco will above all promote investment to help agriculture adapt to the effects of climate change in the Kingdom of Morocco.
Farms that promote more efficient use of water in agriculture to reduce water wastage in the face of water stress, agro-ecology that minimises the use of potentially harmful agrochemical inputs, and the dissemination of species and varieties that are resilient to climate change, will be given priority when CAM grants funding. This will help to consolidate the agricultural sector with a view to strengthening food security for the population.
Source: Afrik21