The Grameen Crédit Agricole Foundation
A unique partnership
Created in 2008 at the joint initiative of Crédit Agricole’s Directors and Professor Yunus, founder of the Grameen Bank and 2006 Nobel Peace Prize laureate, the Grameen Crédit Agricole Foundation is a cross-business actor committed to promoting a better-shared economy. Investor, funder, technical assistance coordinator and fund advisor, the Foundation is a recognized actor in the sustainable finance sector.
Initially endowed with €50 million by Crédit Agricole S.A., the Foundation supports today 71 partners (microfinances institutions and social business) and operates in more than 30 countries with more than 65 million euros in commitments. Women and rural populations represent respectively 77% and 76% of the 3 million customers served by the institutions funded by the Foundation.
10 years of action
The year 2018 marked the 10th anniversary of the Grameen Crédit Agricole Foundation. Created by the Crédit Agricole and Professor Yunus, Nobel Peace Prize, the Foundation aims at contributing to the fight against poverty through the promotion of social entrepreneurship and financial inclusion. Since its inception, it has granted more than €200 million in financings and has supported more than 100 partners (microfinance institutions who grant microcredits to populations excluded from the traditional banking system and social enterprises serving low-income populations) in 38 countries.
Discover the Foundation’s 10th anniversary video
Strong partnerships with the Crédit Agricole Group
Several projects were launched in 2018 in partnership with Crédit Agricole entities and Regional Banks. In partnership with CA Indosuez Wealth (Asset Management) and CACEIS Bank, Luxembourg Branch, the Grameen Crédit Agricole Foundation has created the Inclusive Finance in Rural areas Fund (FIR), a social impact investment vehicle allowing the entities and Regional Banks of Crédit Agricole to invest in the microfinance sector. In partnership with Crédit Agricole S.A. and the Group entities, the Foundation launched the ‘’Solidarity Banker’’ programme, a new type of volunteering missions proposed to the employees of the Crédit Agricole Group on behalf of microfinance institutions and social business companies that are partners of the Foundation. In 2018, three missions took place in Burkina Faso, Senegal and Cambodia. Three other missions are to be filled in Kazakhstan, Haiti and Morocco during the first semester of 2019.
2018 was also the preparation year for the 2019-2023 Strategic plan. Reinforcing the offer to microfinance institutions, enhancing the development of rural economies and developing partnerships with the Crédit Agricole Group will be at the heart of the Foundation’s actions in the coming years.