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Groupe BPCE, a stakeholder in the National Initiative for French Agriculture
Thursday, 12 december 2019
On December 4, four financial institutions, including Groupe BPCE, signed a partnership agreement with the French Minister of Agriculture, the EIB and the EIF.
Groupe BPCE is a stakeholder in Inaf (Initiative nationale pour l’agriculture française), a national initiative for French agriculture designed within the framework of the 2018-2022 Major Investment Plan by the European Investment Fund (EIF), a subsidiary of the EIB Group, working closely with the French Ministry of Agriculture. The aim of this structure is to secure national funding for a total of €60 million, and resources from the European Strategic Investment Fund (SIEF or “Juncker Plan”) for a total of €45 million. Thanks to its four financial partners, Inaf should be in a position to raise more than 1 billion euros in investments.
For BPCE, the signature of this agreement builds on the work it has been doing since 2002 with the EIF by helping to set up the Fund’s financial support activities aimed at craft industries or innovative companies. Through the Group’s different brands (Banque Populaire, Caisse d’Epargne, and Natixis), BPCE works alongside farmers throughout France, providing its support for all their projects. At the beginning of 2019, Groupe BPCE published a BPCE L’Observatoire study (in association with the BVA research and consulting group) focusing on changes in the farming industry. This research shows that 71% of farmers are planning investments over the next two years, including 30% in ecological agriculture, and are thinking of diversifying their activities, for example in distance selling. This is already the case for 42% of them.
It should be remembered that Inaf was set up to better satisfy consumer expectations by fostering the development of high quality sectors and encouraging a strong local presence and short distribution circuits. A particular focus is also placed on the renewal of farming generations and the installation of newcomers, the transformation of agricultural models for better economic, social, environmental and health performance as well as the diversification of agricultural activities and farm incomes, in addition to the upgrading of assets that no longer correspond to international best practices.
Photo caption: Sabine Calba, BPCE, signed the agreement on behalf of Groupe BPCE