[Covid-19] The Grameen Crédit Agricole Foundation in 2020

Eric Campos, Grameen Crédit Agricole Foundation

In 2020, the Foundation supported 80 microfinance institutions and social enterprises in 39 countries worldwide. With the COVID-19 pandemic, the Foundation established an ongoing dialogue with all partner organizations and adapted its financial and technical support. The Foundation also collaborated with other key stakeholders in the inclusive finance sector to develop joint solutions and better protect microfinance institutions and their clients. Spotlight on the Eric Campos interview, General Delegate of the Foundation, and some key figures for the activity in 2020.

The Covid-19 crisis has affected the microfinance sector worldwide

Eric Campos : The year 2020 was a very challenging year for the partners of the Grameen Crédit Agricole Foundation, microfinance institutions, and environmental social impact businesses. It was very challenging because the end beneficiaries, who are highly dependent on sectors such as trade, agriculture, and crafts, had to cope with lockdown measures and therefore struggled to develop their income-generating activities.

The Foundation has adapted to better support entrepreneurs in the field

EC : The Foundation's teams focused on all actions that could help these institutions and businesses gain time and adapt to the economic effects of this crisis. At the international level, we coordinated an agreement with international donors to avoid a liquidity crisis in the microfinance sector. At the Foundation level, we granted numerous deadline extensions and supported institutions and businesses by sending technical assistance missions to enable them to improve their risk management and cash flow management. We were present throughout this year, alongside the Foundation's long-standing partner institutions.

What are the prospects for 2021?

EC: In 2021, we are still in a crisis context. We are seeing some weak signs of economic recovery in approximately one-third of the Foundation's countries of intervention. In 2021, the Foundation will strengthen its technical assistance program. We will continue to finance and support our partners, and we are cautious but confident about the economic recovery that we are already beginning to see. Our commitment: to help our partners get through this global crisis.