The Foundation strengthens its support for the microfinance institution Graine

© Didier Gentilhomme
In February, the Grameen Crédit Agricole Foundation signed a new financing contract in Burkina Faso, in favor of the microfinance institution Graine, for an amount in local currency equivalent to 380,000 euros. This financing is provided as part of the program of the African Facility, a system set up in 2013 by the Grameen Crédit Agricole Foundation, in partnership with the AFD, to support a greater number of rural microfinance institutions in sub-Saharan Africa.
GRAINE (Investment and Savings Support Group) is a microfinance institution whose mission is to "contribute to improving the economic and social conditions of poor populations in Burkina Faso, primarily rural women, by providing them with appropriate financial services." To date, the institution has more than 24,000 clients, including 97% women and 80% rural clients.
With this new funding, the Foundation's outstanding loans in sub-Saharan Africa reach €35.5 million, representing 371,000 million of the Foundation's total outstanding loans. With 40 partners, sub-Saharan Africa represents 471,000 million of the Foundation's total outstanding loans as of the end of February 2020.
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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator, and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.
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