Amundi announced on Tuesday the launch of a new private debt investment program designed to finance the transition of Europe's agricultural and agri-food sector.

The launch comes at a time when the European Union, the world's third-largest agricultural power, has significant unaddressed financing needs, estimated at between €20 and €40 billion a year, explains the asset manager.

The program, called 'Amundi Ambition Agri-Agro Direct Lending Europe' (AAAA), aims to finance pan-European companies in the agricultural and agri-food sectors committed to making the transition to a more sustainable model, with a fundraising target set at 750 million euros.

In a press release, Amundi states that it has already received a commitment of 130 million euros from its parent company, the Crédit Agricole Group.

The marketing period for the institutional vehicle is now expected to last between 12 and 18 months.

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