Phare Ponleu Selpak: Cambodian circus show breaks Guinness world record

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In the face of the Covid crisis, the circus, seeking funding, came up with something truly creative to attract attention: putting on a show that could break the Guinness World Record. 

Phare Ponleu Selpak, a Cambodian non-profit arts school, set a Guinness World Record by staging a circus show that lasted 24 hours, 10 minutes, and 30 seconds in Battambang. The show took place between March 7 and 8, 2021, but the record was confirmed by Guinness World Records (GWR) in November.

Phare Ponleu Selpak (PPSA) is an organization founded by Cambodian refugees to help children overcome the trauma of war and to restore the country's culture and education after the Khmer Rouge genocide. The organization now supports the education of 800 disadvantaged children and trains hundreds more in the visual, musical, and performing arts to help lift hundreds of families out of poverty and keep Cambodian culture alive.

Over the past decade, PPSA has taken innovative steps to avoid aid dependence by establishing a grassroots animal-free circus and a tourist attraction that funded their rescue programs. This included the creation of Phare Performing Social Enterprise (PPSE), in which the Grameen Crédit Agricole Foundation is a shareholder. This company is responsible for producing and distributing the circus performances while employing young performers from disadvantaged backgrounds trained by the NGO.

Faced with Covid-related restrictions that put an end to live performances, and therefore to artists' sources of income, PPSA sought alternative sources of income and came up with something truly creative to attract attention. An idea that drew on the same creativity and resilience that led to the creation of the association and that allowed it to break a world record and thus enter the Guinness Book of Records.

To learn more about the Phare Circus, click here.

In Moldova, the Foundation strengthens its support for Smart Credit

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© Philippe Lissac / Godong

In September, the Grameen Crédit Agricole Foundation granted new financing in Eastern Europe, particularly in Moldova, where it is strengthening its support for the microfinance institution. Smart Credit.

The institution was thus granted a new loan in the amount of €500,000 in local currency, over a four-year period. Smart Credit is a microfinance institution whose objective is to help clients improve their living conditions, particularly socially disadvantaged small entrepreneurs. The institution currently has more than 3,000 active borrowers, including 54% women and 71% rural clients, and manages a portfolio of nearly €4 million.

To learn more about our partners, Click here.

Finance for inclusion: focus on impact investing on the occasion of the release of the film "Same Same but Different"

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On the occasion of the film's release "Same Same but different", directed by Tommy Pascal and filmed in Cambodia with Phare Performing Social Enterprise (PPSE), a social enterprise supported by the Grameen Crédit Agricole Foundation and which employs young artists from disadvantaged backgrounds, Crédit Agricole SA and the Foundation organized a round table at the Grand Rex on the “Finance for inclusion: challenges and opportunities”.

Moderated by Vincent Brousseau, Director of Impact Financing at the Grameen Crédit Agricole Foundation, the round table composed of Cyrille Langendorff (Phitrust), Florian Peudevin (Amundi) and Mathieu Cornieti (Impact Partners) offered insightful discussions. The speakers presented the impact investing sector in France, explained what patient investments are, and the risks and challenges of the sector. Punctuated with concrete examples of their activities, the discussions highlighted the importance of finance in achieving fairer and more equitable inclusion of vulnerable populations, both in France and abroad, as well as the importance of time in projects that can only be considered long-term.

“Take the time to support social innovations.” – Florian Peudevin

Time is a key concept in finance. Because it's linked to profitability, performance, and the clarity of their effects. Would moving quickly be a guarantee of success? Not when it comes to impact investing. To provide answers to major challenges, we must innovate and take the time to support these innovations. ", explains Florian Peudevin. Investing in a project with social impact means accepting that it will experience ups and downs and difficulties. We are in a long-term perspective. What we are adjusting is the level of risk we want to position ourselves on. », agrees Mathieu Cornieti. “ We don't desert in case of a problem " concludes Cyrille Langendorff.

Presented by Regis Wargnier, French director, President of PPS France, in the presence of Veronique Faujour, General Delegate of the Grameen Crédit Agricole Foundation, PPSE's experience is a concrete example of what impact investing can represent for the inclusion of vulnerable populations, and in particular young people in difficulty. This support is all the more necessary in times of crisis such as that experienced during the Covid pandemic, which has undermined the financial situation of the company and, consequently, that of the artists and their families. The support of the Grameen Crédit 10Agricole Foundation and the Crédit Agricole SA Group was crucial in enabling the company to overcome this milestone and continue to offer us unique shows such as the one from which an excerpt was screened as an introduction to the round table.

Find the extract from the film “Same Same but different” here.

The entire film East available on the Qwest TV platform (by subscription).

Symbiotics publishes its 2021 impact report

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Financial services have a vital role to play in emerging economies and are a key contributor to achieving the Sustainable Development Goals (SDGs). However, one in three adults in developing countries remains unbanked and lacks access to basic financial services to help them manage household finances.

Expanding access to finance among these underserved populations allows them to improve their financial resilience, seize business opportunities that would otherwise remain out of reach, and create new jobs, thereby contributing to several SDGs. For example, financial services such as loans, savings accounts, and insurance products contribute to poverty reduction (SDG 1: No Poverty) by providing low-income households with mechanisms to better manage their finances. Furthermore, targeting women's financial inclusion contributes to gender equality (SDG 5: Gender Equality), since low-income women represent the largest share of unbanked adults and often lack the resources to control their finances. Other tailored financial services targeting farmers can also contribute to food security (such as SDG 2: Zero Hunger) by increasing agricultural productivity and supporting smallholder farmers.

Through these channels, the Symbiotics portfolio aims to contribute to sustainable development and economic growth by expanding access to finance among low- and middle-income households in emerging and frontier markets.

The Symbiotics 2021 Impact Report analyzes and presents the social and environmental impact of Symbiotics' investments as of December 2021.

Download the report here.

CAURIE in Senegal implements the YAPU software

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YAPU is a company founded to support financial institutions and enable more clients to pursue economic empowerment and social development while observing and reducing the negative impact on the environment.

The platform enables financial institutions to seamlessly digitize their processes, strengthen risk management, and improve the terms of value offerings to their customers. Financial institutions can broaden and deepen their market reach and be ready to receive additional investments based on their documented impact.

Recently, the YAPU team, led by Delphin Ngamije, organized a practical training session on the implementation of the YAPU software during a visit to CAURIE Microfinance, a long-standing partner of YAPU and a partner of the Grameen Crédit Agricole Foundation in Senegal.

The training focused primarily on the theoretical aspects of using the software and interpreting integrated climate indicators, followed by a two-day field training session. CAURIE teams tested the digital applications for individual loans, as well as group loans, for agriculture and businesses, with real clients.

The implementation of this software will facilitate the work of credit officers, and consequently, CAURIE's processes and its interaction with customers.

For more information about CAURIE, Click here.

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Source: YAPU website

 

The Grameen Crédit Agricole Foundation is a member of the 4 per 1000 initiative

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The 4 per 1000 initiative, launched by France at COP21 in 2015, brings together voluntary stakeholders from the public and private sectors to launch concrete actions "to improve soil health. It carries the vision of healthy, carbon-rich soils on a global scale to combat climate change and end world hunger." The ambition of 4 per 1000 is to engage the world's farmers in regenerative, resilient, and biodiversity-friendly agriculture.

The ambition of the International 4 per 1000 Initiative is to encourage land users to move towards diversified, productive, resource-efficient and highly resilient agriculture and forestry, based on appropriate management of natural resources, particularly land, soil and water, thereby strengthening agricultural activities and the global economy and ensuring sustainable development.

This Initiative invites all stakeholders (producers, scientific community, private sector, NGOs, regional and local authorities, countries, international organizations, development banks, foundations, etc.) to promote and implement practical actions based on science, based on successful experiences.

The Initiative aims to involve stakeholders in developing a global monitoring system to better assess soil carbon stocks and establish appropriate public policies.

For Vincent Brousseau, Director of Impact Financing at the Grameen Crédit Agricole Foundation, “ The Foundation's choice to become a member of the international 4 per 1000 initiative in September 2022 reflects our desire to work closely with partners keen to promote the experiences of farming communities to strengthen the resilience of their territories. We fully embrace 4 per 1000's holistic approach to regenerative agriculture as a means of adapting to and combating climate change, but also as a powerful lever for improving food security and the economic prosperity of farmers.. »

More information about theinternational initiative 4 per 1000 here.

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Source: 4 per 1000 Initiative

Circle of Friends of the Foundation: a look back at the meeting with the managers of the OXUS group subsidiaries

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OXUS is a socially responsible enterprise created by ACTED in 2005 to manage and develop microcredit activities as a logical extension of ACTED's development programs. OXUS Network seeks to provide its clients in developing countries with tailored and competitive financial services while offering its investors attractive financial returns.

Since its inception, OXUS has been a cornerstone of ACTED's development strategy, providing beneficiaries with access to credit and opportunities to achieve economic and social independence. As such, the OXUS Group's activities are part of a broader framework of human development, economic performance, and social development.

OXUS is now present in Central Asia, specifically in Tajikistan, Kyrgyzstan, and Afghanistan. A partner of the Foundation since 2013, OXUS presented its activities at a meeting of the Foundation's Circle of Friends on October 11. The directors of the three subsidiaries presented their structure, their activities, and the context of their work to the participants, with a particularly striking testimony from Salim Khan, Director of OXUS Afghanistan, who spoke of the return of the Taliban to Kabul on August 15, 2021, and the company's resilience in enabling employees and customers to continue leading relatively normal lives. OXUS Afghanistan is the only OXUS subsidiary not currently supported by the Grameen Crédit Agricole Foundation.

This meeting was also an opportunity to hear the joint testimony of Andréas Brunner, Solidarity Banker who went on a mission on behalf of the Foundation to Kyrgyzstan in October 2021, and Denis Khomyakov, Managing Director of OXUS Kyrgyzstan, and the positive impact of this technical assistance mission on the internal organization of the institution.

You can now access the recording of this meeting which was held in English, as well as to the presentation of OXUS.

To learn more about the Solidarity Bankers program, Click here.

More information on the Foundation partners here.

Grameen Crédit Agricole Foundation and Crédit Agricole CIB provide a sustainability-linked loan to Annapurna Finance, a leading Indian MFI

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The Grameen Crédit Agricole Foundation and Crédit Agricole CIB are providing a 350 million rupees (4.5 million euros) Sustainability-Linked Loan to Annapurna Finance, an Indian non-bank financial institution specializing in providing microcredit to low-income populations. Annapurna Finance is the first microfinance institution in India to sign a Sustainability-Linked Loan.

Through this facility, Annapurna Finance is committed to strengthening its environmental and societal contribution, beyond the social impact inherent in microfinance activity, by promoting new solutions to finance the energy transition and the resilience of populations in the face of climate change, and strengthening women's entrepreneurship through training.

In line with the recommendations of the Sustainability-Linked Loan Principles, the conditions of the transaction include a mechanism for indexing the margin to the achievement of the annual objectives of the following indicators: the photovoltaic capacity installed by micro, small and medium-sized enterprise customers; the construction and modernization of resilient housing in cyclone zones by microfinance customers; the participation of microfinance customers in a program to strengthen entrepreneurial skills for an exclusively female audience.

The Grameen Crédit Agricole Foundation and Crédit Agricole CIB have been working since 2019 to promote financial inclusion through financing of non-banking institutions in India. For this transaction, the Grameen Crédit Agricole Foundation acted as arranger and guarantee provider to Crédit Agricole CIB in India, which granted this financing to Annapurna Finance. In addition, as ESG Coordinator, Crédit Agricole CIB's Sustainable Banking team advised Annapurna Finance on " Solidarity Bankers ", a skills volunteer program launched by the Grameen Crédit Agricole Foundation and Crédit Agricole SA for microfinance institutions and impact businesses supported by the Foundation.

Eric Campos, General Delegate of the Grameen Crédit Agricole Foundation, declared: “ We are pleased to direct bank financing towards the microfinance sector and to foster innovation, supporting our partner Annapurna in its desire to strengthen financial inclusion and social and environmental impact. »

Nathalie Sarel, responsible for Sustainable Banking for SMEs and mid-caps at Crédit Agricole CIB, added: “ This landmark loan, linking financial and non-financial aspects, the first of its kind granted to a microfinance institution, sends a powerful message that once again demonstrates our ability to support and encourage all types of institutions in their efforts to combat climate change and promote a more just and inclusive society. Alongside the Grameen Crédit Agricole Foundation, we are very proud to have supported Annapurna in this innovative and high-impact transaction. »

Gobinda Chandra Pattanaik, Managing Director of Annapurna Finance, said: “ The future of responsible lending lies in leveraging sustainability practices, which requires strategic decision-making and the use of more environmentally and socially appropriate products. We are confident that this collaboration between Crédit Agricole and Annapurna will help both organizations achieve positive sustainability outcomes. »

Dibyajyoti Pattanaik, director of Annapurna Finance, said: “ We are pleased that Crédit Agricole supports our efforts to integrate a better environmental and social management system. For two decades, Annapurna has placed sustainable development at the heart of its strategy, in line with our vision of contributing to self-sufficient and economically strong rural and peri-urban communities. Our We-LEAD program, which aims to develop the entrepreneurial spirit among women in rural areas, pursues the same ambition of a positive societal contribution from our business. Entering into such a unique partnership with Crédit Agricole should help us achieve our future objectives. »

Download the press release.

For more information about our partners, click here.

Paidek beneficiary of a technical assistance mission within the framework of the SSNUP program

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PAIDEK, a partner of the Grameen Crédit Agricole Foundation since 2014, is a microfinance institution (MFI) created in 1993 by SOS Faim whose mission is to contribute to strengthening the economic fabric and revitalizing the popular economy in the Democratic Republic of Congo, and in particular in the Kivu region (North Kivu, South Kivu and Maniema). To do this, the institution, which had nearly 21,000 active borrowers at the end of June 2022, including 51% women, facilitates access to financial and non-financial services for disadvantaged populations excluded from the traditional banking system by setting up a professional and sustainable financial instrument with individual and group loans.

Today, PAIDEK operates mainly in urban areas (2/3 of its clients). Despite its desire to target more small agricultural producers in rural areas, and despite the decline in the number of active borrowers in urban areas for several years, the MFI is having difficulty achieving this strategic objective due to the distance between the targeted areas and its branches, making it difficult to reach its target and posing security issues related to cash transfers. To this end, the institution wishes to adapt its service offering, in particular to provide remote access to its rural clientele, composed mainly of women, young people and small producers.

In order to achieve its objectives, PAIDEK will be able to benefit from the SSNUP (Smallholder Safety Net Upscaling) program coordinated by ADA and for which the Foundation was selected as one of the impact investors responsible for its implementation. This program aims to increase the productivity and resilience of smallholder farmers, particularly in Asia and Africa, through better risk management and the promotion of sustainable and climate-smart agricultural practices.

This project focuses on the development of digital channels for the distribution of financial products, adapted to the needs and constraints of small producers in rural areas. The technical assistance provided under the program will allow PAIDEK to define the digital solutions to be implemented to improve the distribution of financial products and strengthen its reach in rural areas, particularly among small producers operating in the coffee, rice, onion, tomato, potato, cassava, corn, and bean sectors. This project will also allow the institution to increase its reach in rural areas, reduce its operational costs, and limit the risks associated with handling cash.

For the Grameen Crédit Agricole Foundation, this project is central to one of its strategic priorities: strengthening rural economies. This technical assistance mission thus contributes to strengthening the impact of the funding already provided by the Foundation to PAIDEK.

For more information about the SSNUP program, Click here.

Improving the resilience of small businesses and smallholders: the Foundation organizes training for its partners as part of its AT offer

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Small businesses and small farms are particularly vulnerable to risks, including climate change and the COVID pandemic, as well as exposure to theft, fire, and other threats. Financial institutions serving this market segment have historically focused on financing the operations and growth of these businesses. However, now is the time to rebalance attention to the protective role of financial services.

The transition from productive to protective financial services is particularly relevant for financial service providers (FSPs), which can mobilize savings because they can offer a range of services. The distribution of inclusive insurance products by FSPs is possible because they are well-established in communities and have established trusting relationships with their clients. Moreover, the introduction of insurance into their product portfolio also reduces their own risk exposure: insured clients are less vulnerable and therefore more likely to repay their loans even in the event of an adverse event.

However, the challenges are numerous. Offering insurance to clients requires new skills, such as understanding client risks, negotiating and managing partnerships with insurers, and implementing new business strategies. Furthermore, PSFs are often underinsured themselves, lacking sufficient protection for their own assets and staff.

In 2017, the Grameen Crédit Agricole Foundation and the International Labor Organization (ILO) conducted a survey of the Foundation's partners on their involvement in inclusive insurance. Of the 36 FSPs that responded to this survey, 69 already offered some form of insurance. However, at the time, most of them only offered basic and mandatory products, such as outstanding balance insurance, which offered limited benefits to clients. Yet, 75 of the respondents were interested in introducing inclusive insurance or expanding their current offerings. To do so, however, the FSPs highlighted some of their needs, such as access to financing, technical assistance, and training.

It is within this framework that the Grameen Crédit Agricole Foundation organized a first training session for its partners in September 2022, in Benin. With 9 participants from 5 countries, this first training, which took place over two days, focused on the value of insurance, strengthening the product portfolio, strengthening the organizational structure of MFIs, improving operational processes and ways to improve impact in the organization of institutions. The main objective of the training was to enable partner institutions to acquire the tools to design a comprehensive strategy to make changes to the existing microinsurance offering and to be able to identify ways to increase its efficiency while improving its value and contribution to the MFI's business strategy.

Overall, the beneficiary institutions appreciated the training and its content and deemed it relevant and adapted to their needs. This training will also be followed by support actions including monitoring the West African market in terms of agricultural insurance offerings, sharing best practices through occasional field visits, and reviewing protocols or agreements concerning borrower death products.

More information on the Foundation's technical assistance offer by clicking here.

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Source of program presentation: ILO

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