08.03.2019

€100 million in financing for farmers The EIB and Crédit Agricole group formalise the third tranche of their programme

On the occasion of the Salon International de l’Agriculture trade fair, the European Investment Bank and the Crédit Agricole group formalised the release of the third and final tranche of the Crédit Agricole SME and Mid-Cap Agriculture II financing programme. Launched in 2016, this €300 million package, divided into three tranches of €100 million, is intended to provide loans at attractive terms to small and medium-sized enterprises in the agricultural, forestry and fisheries sectors over three years.

The EIB, the bank of the European Union offers Crédit Agricole favourable refinancing terms on the markets thanks to its AAA rating, and Crédit Agricole passes these terms on through its final loans for the agricultural industry.

€225 million has already been lent to more than 640 farmers via 27 Crédit Agricole Regional Banks for an average amount of €350,000. More than 27% of these loans were for transition projects (24% in the field of methanation and 3% in photovoltaics).

We are delighted with the success of this operation, which is a concrete example of Europe’s commitment to supporting French agriculture with the further aim of promoting environmental transition and helping farmers to build the agriculture model of the future. By making the best terms available to borrowers, the EIB and the Crédit Agricole group are key players in the ongoing transformation of the industry and we hope that our partnership will soon lead to other key initiatives in favour of environmental transition and young farmers.” Ambroise Fayolle, Vice-President of the EIB.  

“We are very pleased with the success of this partnership which meets our objective of providing our farming customers with effective solutions through Crédit Agricole’s Regional Banks. We are keen to build on our cooperation, especially for young farmers through new funding packages Jean-Christophe Roubin, Director of Agriculture, Crédit Agricole S.A. 

Crédit Agricole confirmed its commitment to the agricultural sector at the 2019 Salon International de l’Agriculture trade fair. In addition to this partnership, it made a commitment to the Contrat de Solutions initiative, announced the creation of a €200 million transition fund, an initiative to support organic projects, its participation in the The Green Data start-up’s fundraising round and its partnership with the association Bienvenue à la Ferme (Welcome to the Farm) and the French Chambers of Agriculture.

The European Investment Bank (EIB) is the long-term lending institution of the European Union (EU) owned by its Member States. The EIB makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Credit Agricole is the French economy's leading financier and one of the top banking operators in Europe. As a leader in retail banking in Europe, the Group is also the leading European asset manager, the first bank insurer in Europe, and the third largest European operator in project financing.

On the strength of its cooperative and mutual insurance foundations, its 141,000 employees and more than 30,000 administrators of local and regional branches, the Crédit Agricole group is a responsible, useful bank, serving 51 million clients, 10.17 million members, and 900,000 million individual shareholders.

Thanks to its universal retail banking model - the close association between its retail banks and the business lines that are connected to them - Crédit Agricole group is guiding its customers in their projects in France and around the world: day-to-day banking, housing and consumer loans, savings, insurance, asset management, real estate, leasing, factoring, lending, and investment.

In serving the economy, Crédit Agricole is also distinguished by its dynamic and innovative corporate social responsibility policy. It is based on a pragmatic approach that runs through the entire Group and puts each employee into action.