2023 Annual Report of the Inclusive Finance Fund in Rural Areas
The FIR (Inclusive Finance in Rural Areas) fund was created in 2018 by the Foundation to provide Crédit Agricole Group entities with a specific fund for inclusive finance worldwide. From the outset, 21* Regional Funds participated with Amundi And Crédit Agricole Insurance to the financing of 8 rural microfinance institutions present in 8 countries in Sub-Saharan Africa, Eastern Europe, Central Asia and Southeast Asia.
In 2023, the FIR fund increased its investments to finance micro-entrepreneurs. Seven new loans were granted to MFIs, allowing it to achieve a very good asset deployment rate (80%). As of December 31, 2023, outstanding loans stood at €8,350,000, representing €80 of asset deployment. These microfinance institutions, in turn, finance micro-entrepreneurs, of whom 67% are women, 75% are located in rural areas, and 37% are farmers.
By the end of December 2023, the FIR fund supports 8 microfinance institutions: Mikra in Bosnia and Herzegovina, Lazika in Georgia, Asian Credit Fund in Kazakhstan, Oxus in Kyrgyzstan, Prima Finantare in Moldova, Furuz in Tajikistan, AMZ in Zambia and Pahal in India.
*Alpes Provence, Alsace-Vosges, Brie Picardy, Centre-east, Centre-France, Centre Loire, Centre-West, Champagne-Burgundy, Charente-Périgord, Finistère, Franche-Comté, Ille-et-Vilaine, Languedoc, Loire-Haute Loire, Martinique-Guyana, Normandy-Seine, Provence Côte-d'Azur, Reunion, Savoie, South Rhône Alpes and Touraine Poitou
