La Banque Agricole (The Agricultural Bank) (Senegal)
The history of the creation of LA BANQUE AGRICOLE is closely linked to the various changes in the financing of the rural world in Senegal. Indeed, for a harmonious development, the intervention of the State in the rural world was made through various policies which punctuated the modes of financing of agriculture. Method of financing the rural world from 1960 to 1981
In the aftermath of independence, various structures were set up by the State of Senegal to take care of the financing and support needs of the rural world. Thus, we will witness the creation:
Société de Prévoyance (SP) which played the role of intermediary between producers and finance companies;
the National Development Bank of Senegal (BNDS), which funded the Agricultural Program (PA) through ONCAD;
the National Office of Marketing and Development Assistance (ONCAD) which ensured the distribution of credit to farmers and fishermen through cooperatives and development companies such as SODEVA (Société de Développement et de Vulgarisation Agricole) ).
SISCOMA (Société Industrielle Sahélienne de Construction de Materiel Agricoles) which manufactured agricultural equipment; SIES (Industrial Fertilizer Company in Senegal), fertilizers.
the Mutual Fund for Rural Development (FMDR) which subsidized agricultural equipment, fertilizers, selected seeds and demonstration and experimentation operations, cultural techniques in particular for SAED.
CAMP (Center for Assistance to the Motorization of Pirogues) in 1972 to equip fishermen with outboard motors.
This system worked until 1981, when the State initiated a project to reform the financing system for farmers and fishermen.
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