A €10 million loan has just been granted by the Agence française de développement Group (AFD), represented by its subsidiary Proparco, to the Grameen Crédit Agricole Foundation. This loan will enable the Foundation to develop its support for microfinance institutions, which provide guidance and support, mainly in Africa, to populations excluded from the traditional banking system. The AFD Group has also pledged to support the Foundation with a €900,000 grant that will enable it to set up a microinsurance technical assistance programme.
Microfinance lenders and key players in inclusive finance worked on a set of principles to better support the microfinance sector in the health and economic crisis caused by the Covid19 [...]
Of the 1.7 billion adults worldwide who are unbanked, women are overrepresented: about 980 million do not have an account, 56% of the world’s unbanked (World Bank). That is the target population of the microfinance sector, which provides a set of financial products and services to people excluded from the banking system.
At the initiative of Grameen Crédit Agricole Foundation, a group of microfinance lenders and key players in inclusive finance worked on a set of principles to better support the microfinance sector in the health and economic crisis caused by the Covid-19. Grameen Crédit Agricole Foundation, ADA, Alterfin, Cerise, CIDR Pamiga, Cordaid Investment Management, Crédit Agricole CIB India, CA Indosuez Wealth (Asset Management), Crédit Agricole S.A., European Microfinance Network, FS Impact Finance, InFiNe.lu, Inpulse, Luxembourg Microfinance And Development Fund, MCE Social Capital, Microfinance Centre, Rabo Foundation, SIDI, SIMA and Social Performance Task Force are the first signatories of a common pledge that aims to support microfinance institutions and fragile clienteles during this crisis.
The Crédit Agricole Grameen Foundation and Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) are teaming up to aid and fund Indian microfinance institutions supporting the business plans of populations excluded from the traditional banking system. Through this partnership, Crédit Agricole Group is putting its expertise to work for inclusive finance in India, and has earmarked funding of €12 million to that end.
For the past 10 years, the Grameen Crédit Agricole Foundation has been committed in promoting inclusive finance and social impact entrepreneurship. With more than € 200 million in fu [...]
Credit facility will help drive financial inclusion by expanding access to working capital loans
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