Bolstering the support package offered by the French National Initiative for Agriculture (INAF) will help the financial instrument to continue beyond its first phase.
With an investment volume of over €2 billion, this guarantee fund is expected to benefit more than 15 000 farmers by 2028.
This project complements the EIF’s support for initiatives in three French regions that are also backing the agricultural sector.

Paris, 21 May 2025: Minister of Agriculture and Food Sovereignty Annie Genevard and EIB Vice-President Ambroise Fayolle have signed an agreement alongside the representatives of four partner banking groups: Arkéa, BPCE, Crédit Agricole and Crédit Mutuel Alliance Fédérale. This signing ceremony marks the launch of the second roll-out phase of the National Initiative for French Agriculture (INAF).

Driven by good results in the first phase, which helped generate €2.7 billion in agricultural investment in France, the Ministry of Agriculture has decided to continue with the initiative by increasing the financial resources of the guarantee fund. The financial instrument is performing well and has thus been extended until December 2028. This will make it possible to guarantee certain agricultural loans using a targeted approach in order to support France’s control over agricultural production, transformation, new farmers and their integration into the regional economy.

The aim of INAF is to support the generation of added value and to transform production systems. To achieve this, it finances investment projects aiming to:

strengthen generational renewal and help young farmers to set up their farms;
better meet consumer expectations by expanding the development of high-quality sectors and promoting a regional focus with local networks;
transform agricultural models for improved economic, social, environmental and health performance;
encourage the diversification of farming activities and revenue;
modernise farming equipment and infrastructure to favour sustainability, performance and resilience.

Farms, new farmers, holding companies, and small and medium-sized businesses (SMEs) in the farming sector – and those with at least 50% of their capital held by a business operating in the farming sector – can access INAF.

A very successful first phase

The first phase was launched in 2019 and was a major success. Almost 8 500 agricultural loans were funded, mobilising a total of €1 billion of credit, which generated €2.7 billion of agricultural investment in France.

This first phase made it possible to support transformation and transition projects led by farmers:

More than 80% of the projects that received finance are for newly established businesses, and over 70% of final beneficiaries are under 40 years old.
Around 80% of beneficiaries aim to better meet consumer expectations and to transform farming models.

The EIF developed this initiative in cooperation with the Ministry of Agriculture as part of the French Government’s Investment Plan for 2018-2022 and the Guidance Pact for Generational Renewal in Agriculture for 2024-2028.

French Minister of Agriculture and Food Sovereignty Annie Genevard said:

"Our agricultural sector is facing major changes, so I am pleased to see this ambitious project reinforced as part of this strategic partnership with the European Investment Fund. This new phase for INAF shows how we aim to offer concrete support to farmers regarding changing ways of working, to help young farmers get set up, and to strengthen our agricultural sovereignty. Congratulations to everyone for this strategic partnership for our farming sector.”

EIB Vice-President Ambroise Fayolle said:

“This partnership is an excellent example of the joint mobilisation of European and national resources to meet practical needs on the ground. This instrument has already been a success and has proven its worth by stimulating investment in farming, and by promoting transformation, making the sector more innovative and sustainable.”

EIF Chief Executive Marjut Falkstedt said:

“The farming sector is a strategic priority for the EIF. With INAF, we are showing our ability to mobilise powerful financial tools for the benefit of farmers and local communities. This new phase reflects our aim to support agricultural investment in a sustainable manner, to back environmental transitions, and to help the younger generations set up businesses in the sector.”

About the EIF

The European Investment Fund is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, it contributes to the achievement of key EU policy goals such as competitiveness and growth, innovation and digitalisation, social impact, skills and human capital, climate action and environmental sustainability.

EIB Group press contacts

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Andrea Morawski | a.morawski@eib.org | Mobile: +352 691 284 349, tel.: +352 4379 83427

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Ministère de l’Agriculture et de la Souveraineté alimentaire - Press contacts

Annie Genevard’s Press Office | Tel.: +33 1 49 55 59 74 | cab-presse.agriculture@agriculture.gouv.fr

Ministry Press Office | Tel.: +33 1 49 55 60 11 | ministere.presse@agriculture.gouv.fr