Crédit Agricole and Dai-ichi Life partner to support microfinance and gender finance

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.  

To support the development of microfinance and gender finance, the Dai-ichi Life Insurance Company Limited, Crédit Agricole CIB, Tokyo Branch, and the Grameen Crédit Agricole Foundation have set up an innovative scheme. The Dai-ichi Life Insurance Company has invested 2 billion Yen in a 10-year Microfinance and Gender Loan scheme by Crédit Agricole CIB, which will benefit the Grameen Crédit Agricole Foundation to support microfinance institutions focusing on women and social enterprises in rural economies of developing countries.

This is the first ever Microfinance and Gender Loan scheme arranged by the Crédit Agricole Group. “This one of a kind transaction is a perfect illustration of the ambitions of the Group’s Project 2022. It reaffirms our customer-focused model and our efforts to provide innovative solutions to our Asian clients, while strengthening our commitment to responsible investment”, says Michel Roy, Senior Regional Officer for Asia-Pacific of Crédit Agricole CIB.

With this partnership, Dai-ichi Life Insurance Company reinforces its commitment to high social impact investments. “We are honored to financially support the Grameen Crédit Agricole Foundation and its action in favour of women financial inclusion and entrepreneurship in developing countries. As a responsible institutional investor, Dai-ichi Life will continue an active engagement in ESG investment and contribute to forming sustainable social framework around the world”, affirms Tetsuya Kikuta, Director, Managing Executive Officer of the company.

For the Foundation, it is a great opportunity to strengthen its action in developing countries. “Alongside Crédit Agricole CIB and Dai-ichi Life, we will step up our support for women empowerment through microfinance and female entrepreneurship. It is a real pride for the Foundation to be part of this innovative and unique partnership in the history of the Crédit Agricole Group”, says Eric Campos, CEO of the Grameen Crédit Agricole Foundation.

Crédit Agricole CIB

Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 12th largest banking group worldwide in terms of Tier 1 capital (The Banker, July 2019). Nearly 8000 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank’s clients, meeting their financial needs throughout the world. Crédit Agricole CIB has a long-standing commitment to sustainable development. It was the first French bank to sign the Equator principles in 2003. It also played a precursory role on green bond markets by arranging public offers for issuers of various types (supranational banks, companies, local authorities, banks) starting in 2012, and contributed to the establishment of the Green Bond Principles and the guidelines for social bonds. Drawing on the expertise of its team specialised in sustainable finance and the support of its senior bankers, Crédit Agricole CIB is one of the most active banks on the green and social and social bond market.

For more information: www.ca-cib.fr


Grameen Crédit Agricole Foundation 

Created at the joint initiative of Crédit Agricole and Nobel Peace Laureate Pr. Muhammad Yunus, the Grameen Crédit Agricole Foundation contributes to the fight against poverty by promoting social entrepreneurship and financial inclusion. Since its creation in 2008, more than €200 million in loans have been granted to more than 100 microfinance institutions and social enterprises working in around 40 different countries. The Foundation currently supports 87 organisations, with a portfolio of more than €100 million. It primarily targets microfinance institutions serving women and rural populations. These institutions support over 9 million people, 85% of whom are women and 78% of whom live in rural areas.

For more information: gca-foundation.org/.


Dai-ichi Life Insurance Company

The Dai-ichi Life Insurance Company, Limited (“Dai-ichi Life”) (TSE:8750) is the second largest private life insurance company in Japan as measured by total assets as of March 31, 2019. Founded on September 15, 1902, Dai-ichi Life was the oldest mutual insurance company in Japan until it was demutualized and listed on the Tokyo Stock Exchange on April 1, 2010. As of March 31, 2019, total assets were ¥35.9 trillion (USD$339.1 billion) on a consolidated basis. Based in Tokyo, Dai-ichi Life has approximately 55,000 employees and 1,258 sales offices throughout Japan. It also has overseas life insurance businesses in Vietnam, Australia, Thailand, Indonesia, India and Cambodia as well as offices in New York, London and Singapore.

For more information: http://www.dai-ichi-life.co.jp/english/.