12.06.2019

Crédit Agricole signs an operational agreement with the Occitania Region and the European Investment Fund (EIF) for the distribution of new agricultural loans in Occitania

Four Crédit Agricole Regional Banks located in the Occitania region*, the Occitania/Pyrenees-Mediterranean Region and the European Investment Fund (EIF) have signed a partnership under the Foster TPE-PME Agri fund (2). This operating agreement is for a total of €4.2 million (€1.97 million in regional loans and €2.23 million in EAFRD funding), making possible the mobilisation of €21 million in bank loans for agricultural and agro-food companies in Occitania over a period of 3 years.

This portfolio of new agricultural loans is earmarked for investments in the areas of livestock farm modernisation, specialised crop production, and operations related to the processing and marketing of farm products, among others. Tangible and intangible investments, as well as WCR in the context of the programme will benefit from more attractive financial conditions and reduced guarantees.

This type of programme is being developed in other French regions as well as nationally under the Major Investment Plan launched by the Ministry of Agriculture and Food. The Crédit Agricole Group has decided to underwrite these programmes so that its agricultural customers can benefit from the guarantees offered and thus the favourable investment conditions.

“We are delighted with launch of this partnership between the Occitania Region, EIF and the Crédit Agricole Group. With this plan we will be able to meet our goal of providing effective solutions to support our agricultural customers. We wish to develop this type of cooperation in other parts of the country” says Jean-Christophe Roubin, Director of Agriculture at Crédit Agricole S.A. 

(1) the Regional Banks of North Midi-Pyrenees, Gascony Pyrenees, South Mediterranean and Toulouse 31.

(2) Foster TPE-PME is made up of 4 funds of funds - including the “Agri” fund - providing strong leverage for entrepreneurs. With €135.5 million in additional funds from the Region and European funds (ERDF and EAFRD) and €7.5 million from EIF, Foster TPE-PME Agri is the global financing system mobilising the most European funds currently implemented in France. Its activities cover the entire spectrum of financial engineering: loans, guarantees, corporate investment.