Following the recent severe weather that has affected several regions of the Kingdom, the Agricultural Credit of Morocco (CAM) has announced the establishment of an exceptional support system aimed at assisting affected populations, particularly farmers. This initiative seeks to mitigate the impact of climatic conditions on agricultural production and to support local economic recovery in the affected areas.
Amid a context marked by material damage and disruptions to agricultural activities, the banking group intends to provide tailored support, adapted to the situation of each beneficiary. This initiative will cover both farmers and other impacted clients across the entire network of the Agricultural Credit of Morocco and its subsidiaries, including Tamwil El Fellah, ARDI Microfinance, Al Filahi Cash, and Al Akhdar Bank, its participatory subsidiary.
The support plan is based on three main axes. The first calls for the immediate exemption of transfer fees for remittances benefiting residents of the affected localities. This measure will be implemented by the Agricultural Credit of Morocco and its payment institution Al Filahi Cash for a duration of two months, to facilitate access to assistance and financial transfers.
The second axis concerns the case-by-case granting of payment facilities to group clients affected by the severe weather. These measures aim to relieve the cash flow of farmers and other local economic actors facing temporary difficulties due to a drop or halt in their activities.
Finally, the third component focuses on mobilizing necessary funding to enable affected farmers to resume their activities as soon as possible. The aim is to preserve agricultural production capacity, maintain value chains, and therefore protect the incomes of the concerned populations.
Through this mobilization, the Agricultural Credit of Morocco reaffirms its commitment to fully participate in national efforts to support areas affected by climatic hazards. The bank intends to work alongside various stakeholders in the agricultural and rural ecosystem to strengthen the resilience of populations to climate risks.
With this initiative, the Agricultural Credit of Morocco confirms its role as a supportive partner of the rural and agricultural world, committed long-term to farmers and territories, even in the most challenging times.