The Foundation publishes its 2020 Integrated Report

The Grameen Crédit Agricole Foundation has published its 2020 Integrated Report, which highlights the highlights and key figures of this year marked by the health and economic crisis linked to Covid-19. Thanks to close monitoring and collaboration with its partners and other stakeholders in the inclusive finance sector, the Foundation ended the year with a solid balance sheet.

As of December 31, 2020, the Foundation managed €81.2 million in outstanding loans for 75 microfinance institutions and 12 social enterprises in 39 countries. Women's entrepreneurship and the development of rural economies remain at the heart of the Foundation's work: 73% of the 7.3 million beneficiaries of the institutions supported are women, and 85% live in rural areas.

Since the beginning of the crisis, the Foundation has conducted surveys among the organizations supported to understand the impact of the crisis and better respond to their needs[1]. The Foundation has also initiated global coordination with other actors around the key principles to protect microfinance institutions and their clients in the face of the crisis. To date, 30 lenders, investors, and platforms have signed the Coalition's commitment.

Thanks to this ongoing dialogue with its partners and peers, the Foundation has implemented several tailored measures to support the sector. It has granted deferrals to 29 partners, mainly microfinance institutions, for a total amount of €9.4 million. In 2020, the Foundation also supported organizations with 93 technical assistance missions[2], on priority topics such as continuity plans but also on themes such as digitalization, which is essential for the resumption of their activities.

The Foundation was able to count on the support of its donors to strengthen its action in 2020. It obtained financing from Proparco, the European Investment Bank (EIB) and Crédit Agricole CIB to create a Covid-19 envelope and support the economic recovery of its partners.

In 2020, the Foundation also worked alongside the Crédit Agricole groupThrough a new cooperation plan with Crédit Agricole Romania, new financing granted through the FIR – the Group's Microfinance Fund – and the Solidarity Bankers skills volunteer program, the Foundation and Crédit Agricole have strengthened their efforts to promote the financial inclusion of the most vulnerable populations. This mission will remain a priority in this year of recovery that is 2021.

Download the Report

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[1] Survey results and other resources are published in the Foundation's Covid-19 Observatory: //www.gca-foundation.org/observatoire-covid-19/

[2] More information on the Foundation's technical assistance offer: //www.gca-foundation.org/technical-assistance/