The Grameen Crédit Agricole Foundation publishes its 2019 Integrated Report

©Philippe Lissac

For the third consecutive year, the Foundation has experienced dynamic growth in its activity: outstanding loans reached €96 million for the benefit of 75 microfinance institutions and 12 social enterprises in 39 countries. Women's entrepreneurship and the development of rural economies are at the heart of the Foundation's work: 85% of the clients of the funded institutions are women and 78% live in rural areas.

Strengthened partnerships

In 2019, the Foundation reaffirmed its leverage position within the Crédit Agricole Group in promoting inclusive finance. Already working closely with Crédit du Maroc and Crédit Agricole Egypt, the Foundation partnered with Crédit Agricole CIB in India to support Indian microfinance institutions. The Rural Inclusive Finance Fund (FIR) brought together no fewer than 21 regional banks, as well as Amundi and Crédit Agricole Assurances. Furthermore, Solidarity Bankers, Crédit Agricole's volunteer program for the Foundation's partners, concluded a successful first year: since the program's launch in 2018, 13 missions have been launched, for a total of 123 days devoted to missions.

Last year, the Foundation also developed numerous projects with institutional and technical partners. The program with the French Development Agency (AFD) is in its second phase and supports 22 microfinance institutions in sub-Saharan Africa. The Foundation also received a loan from the European Investment Bank amounting to €12 million (equivalent in CFA francs) and funding to develop a technical assistance program to support microfinance in West Africa.

In 2020, the Foundation will continue to work with its partners to support impactful entrepreneurship and financial inclusion. In response to the Covid-19 crisis, the Foundation is coordinating its efforts with other donors, adapting funding and technical assistance plans to strengthen the capacities of the organizations it supports. 2020 will be a landmark year, and the Foundation will continue to contribute to the fight against poverty with ambition and commitment.

Download the Report