[Interview] The FIR promotes the values at the heart of CA Normandie Seine

Interview with Nicolas Denis, Managing Director, CA Normandie-Seine

© Didier Gentilhomme

Launched by the Grameen Crédit Agricole Foundation, the Inclusive Finance in Rural Areas (FIR) fund allows Crédit Agricole Group entities to invest in microfinance and social entrepreneurship in emerging countries. The Normandie-Seine Regional Bank, which contributed €500,000 to the fund, sees it as a responsible approach consistent with its ongoing efforts in its region.

– What objectives does your Fund pursue by investing in the FIR fund?

Nicolas Denis, Managing Director of Crédit Agricole Normandie-Seine : The values of social responsibility are at the heart of our Regional Bank's corporate vision; they are in our DNA. It is natural for us to partner with the FIR fund supported by the Grameen Crédit Agricole Foundation because it promotes these same values. The impact is to combat poverty by providing access to financial services to rural communities in developing countries. This is in line with the actions that the Regional Bank is already carrying out, for example by supporting and financing responsible companies such as the producer of ecological oils Olvea, the manufacturer of sustainable acacia gums Nexira, and the Nutriceps program fighting malnutrition in rural areas.

– What is your view on these new social impact investments?

As a regional bank, our economic activity plays an integral part in the social life of the regions. We play a supportive and accompaniment role in numerous initiatives whose effects are beneficial at the local level. Microfinance and social and responsible entrepreneurship are realities whose development we support. Our bank supports ADIE, a specialist in entrepreneurial microcredit, the Réseau Entreprendre, as well as local initiative platforms for unsecured loans. Similarly, we participate in crowdfunding platforms such as Tubigo, Babyloan, and Miimosa. We are also present alongside AFDI in Normandy, an organization that builds links between French agricultural professionals and projects in Cambodia and Mali, in particular.

– Do these models represent hope, a future?

Personally, I'm struck by how abundant and promising these new models are. When put into practice, crowdfunding and microcredit prove to be much more than new financing avenues. They are also excellent vehicles for information and societal integration of projects that accelerate the connection between an offer and the public. In addition to the FIR fund, this year we are supporting the Femmes & Challenges fund, intended for women entrepreneurs working to promote gender equality. We see it every day: in direct contact with the real economy and society, these approaches are formidable tools for social transformation.

Source : 2019 Integrated Report, Grameen Crédit Agricole Foundation. Download here