Crédit Agricole du Maroc's response to Covid-19

Adapted products, mobilized networks and solidarity cohesion…. Committed to agriculture and the rural world, the Crédit Agricole du Maroc Group has shown a proactive approach to limit the impact of the health crisis on the rural population. The Group has thus led and supported various large-scale projects intended to meet the immediate needs of communities and to minimize the impact on the various agricultural value chains. Crédit Agricole du Maroc’s response concerns an offer adapted to the mechanisms put in place by the State to support businesses. As part of the support for the “Damane Relance” and “Damane Oxygène” initiatives, the bank launched two products. Let us first mention “CAM Relance”. This is a medium and long-term loan that targets all companies impacted by the Covid-19 crisis. This product is intended to finance the working capital needs of companies with a turnover exceeding 10 million dirhams. The second product launched in this direction is “CAM Relance TPE”. This is a medium and long term loan intended for small businesses, legal entities or individuals (including traders, craftsmen, cooperatives and liberal professions) with a turnover not exceeding 10 million dirhams. These products indeed offer several advantageous conditions. They are intended for both rural and urban areas to relieve companies’ cash flow and enable them to restart or continue their activities. Deployment of the mobile rural network for the delivery of aid As part of its mobilization in the support operation for rural populations, Crédit Agricole du Maroc deployed in the first months of the health crisis in Morocco its mobile branches in order to deliver aid granted by the State in isolated areas. To further increase its proximity to these populations, Crédit Agricole du Maroc’s rural mobile network has considerably increased its number of mobile branches, now made up of 100 branches. Note that these mobile agencies are initially intended to support the weekly activities of the souks in rural areas. Innovative approaches to facilitate the withdrawal of aid Crédit Agricole du Maroc has also set up a didactic process allowing beneficiaries to master the process of withdrawing their aid through the use of automatic teller machines (ATMs). The aim is to facilitate their access to financial aid granted by the State to the Ramedists. In this sense, the Group sent all the beneficiaries assigned to its network an SMS including an educational voice message explaining the steps and actions at the ATM and a link for an educational video capsule. At the same time, Crédit Agricole du Maroc has set up a toll-free toll-free number allowing customer relationship management and providing beneficiaries with permanent telephone assistance. Additional modalities for postponing loan maturities In response to the needs of businesses and professionals heavily impacted by the health crisis, the support provided by Crédit Agricole du Maroc to this population focuses on the implementation of exceptional measures consisting of postponing one or more maturities for depreciable loans linked to their professional activity. In this sense, the bank has adopted additional methods to reduce the costs of postponing loan maturities for individuals and professionals affected by this particular economic situation. All employees mobilized in the drive for national solidarity In parallel with its support and support for farmers and the rural world in this particular context, Crédit Agricole du Maroc is part of the drive for solidarity initiated by the Sovereign in allocating 200 million dirhams to the fund for the management of Covid-19. A donation which represents 50% of its annual result. The Group’s employees also took part in this momentum, according to their abilities and wishes. This approach made it possible to mobilize 15,114,071.69 dirhams, paid in a single block to the Fund to fight against Covid-19. An act of individual solidarity which testifies to the mobilization and cohesion of the Crédit Agricole du Maroc teams in this particularly difficult context.