New signatories to protect microfinance from the economic effects of Covid-19

In response to the health and economic crisis caused by Covid-19, a group of donors, platforms, and key stakeholders in the inclusive microfinance sector have established a joint commitment: "Key Principles to Protect Microfinance Institutions and Their Clients in the Covid-19 Crisis." At the initiative of the Grameen Crédit Agricole Foundation, this commitment was developed in consensus with all the initial signatories. The objective is to protect both microfinance institutions and their clients to ensure continued access to financing under the best possible conditions and to ensure the well-being of clients and staff.

The commitment aims to guide stakeholders in better supporting microfinance institutions and vulnerable clients during this crisis. The core principles of this commitment are the sharing of available information, analyses, and anticipations, as well as the concerted implementation of shared decisions. The signatories agree to coordinate policies, technical assistance, and resources to help microfinance institutions cope with this unprecedented crisis.

Since its publication in May, six new organizations have signed the pledge. This initiative now has 26 active signatories in Africa, Asia, Eastern Europe, and Latin America: ADA, Alterfin, Azerbaijan Microfinance Association, Bamboo Capital Partners, CERISE, CIDR Pamiga, Cordaid Investment Management, Crédit Agricole CIB India, Crédit Agricole Indosuez Wealth (Asset Management), Crédit Agricole SA, European Microfinance Network, Grameen Crédit Agricole Foundation, FS Impact Finance, GAWA Capital, InFiNe.lu, Inpulse, Kiva, Luxembourg Microfinance And Development Fund, MCE Social Capital, Microfinance African Institutions Network, Microfinance Center, Rabo Foundation, SIDI, SIMA, Social Performance Task Force, and Whole Planet Foundation.

The signatories invite other stakeholders to join this joint initiative. Coordinating efforts to support the actions of microfinance institutions is essential to overcome this crisis.

Download the commitment