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  • 2005/01/07
  • 3 min
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The Crédit Agricole Group - Crédit Agricole S.A. and its subsidiaries, the Regional Banks and the Fédération Nationale du Crédit Agricole (FNCA) - shares the pain and suffering of all those affected by the tsunamis that swept across the Indian Ocean, and more particularly the sorrow of employees who lost family or friends in the tragedy.

When news of the disaster first broke, the Group, like many other companies, saw an unprecedented show of solidarity. Many elected representatives and employees expressed their wish to support the relief effort being undertaken by the major humanitarian associations.

Alongside these personal commitments, many of our Regional Banks decided to take part in this wave of solidarity, mostly by matching the donations made by their employees, Local Bank directors, members and customers.

Similarly, several entities within the Crédit Agricole S.A. group have contributed actively to the relief campaigns.

Apart from these grass-roots initiatives, Crédit Agricole has decided to make a Group contribution to the relief effort. In agreement with its local teams, it will focus on financing sustainable reconstruction and development projects in the ravaged areas, and has pledged a donation of €2 million for that purpose.

Supervised by Crédit Agricole S.A., Calyon, which has inherited the Asian offices and business of Crédit Lyonnais and Crédit Agricole Indosuez, will take an active part in these projects in collaboration with local authorities and companies in the devastated countries.

In line with its usual practice, the Group will ask its humanitarian association, Crédit Agricole Solidarité et Développement, for help in selecting and monitoring the projects to be financed and in managing the funds.