Crédit Agricole launches a fund for rural microfinance

In partnership with CA Indosuez Wealth (Asset Management) and CACEIS Bank, Luxembourg Branch, the Grameen Crédit Agricole Foundation has launched a social impact investment fund enabling Crédit Agricole Group entities and Regional Banks to invest in financing microfinance institutions in rural areas.

The Foundation is thus strengthening its support for institutions operating in emerging countries to benefit populations traditionally excluded from the banking sector, and more specifically, women, who constitute the bulk of these institutions' clients. The benefit is twofold: a positive profitability objective and an impact in terms of financing income-generating activities. Two loans to microfinance institutions in sub-Saharan Africa were granted thanks to the funds raised. A quarterly monitoring report will be sent to investors. This fund will soon benefit from the Luxflag Label (promoting the financing of sustainable and responsible investments).

This first operation of this type, launched by the Crédit Agricole Group, is a great success!

For the first time, the Regional Banks and Crédit Agricole SA entities have the opportunity to join a system dedicated exclusively to international microfinance investments and structured within the Crédit Agricole group. The first fundraising round, closed on September 28, 2018, confirmed the participation of 13 Regional Banks (Alsace-Vosges, Centre-est, Centre-France, Champagne-Bourgogne, Franche-Comté, Ille-et-Vilaine, Languedoc, Loire-Haute Loire, Martinique-Guyane, Normandie-Seine, Réunion, Savoie and Sud Rhône Alpes) – which already represents 1/3 of the Regional Banks – and Amundi for an amount of nearly €6 million.

The second fundraising round, which closed on December 31, confirmed the participation of two Regional Banks (Charente-Périgord and Provence Côte d'Azur) as well as that of Crédit Agricole Assurances for a total amount close to 8 million euros.

The Grameen Crédit Agricole Foundation – 10 years of supporting microfinance and social entrepreneurship

The Grameen Crédit Agricole Foundation was created in 2008 by Crédit Agricole and the Nobel Peace Prize-winning Professor Yunus Grameen Foundation. Operating in 33 countries, nearly half of which are the world's poorest, the Foundation is committed to combating poverty and promoting financial inclusion. In 10 years, the Foundation has provided more than €215 million in financing. Alongside the Crédit Agricole Group, the Foundation is developing new instruments to increase its financing capacity and strengthen its impact.

The Foundation is proud to work alongside Crédit Agricole SA entities and the Group's Regional Banks to strengthen its action in favor of financial inclusion and the financing of rural economies.

For more information:
pascal.webanck@credit-agricole-sa.fr
carolina.herrera@credit-agricole-sa.fr