Grameen Crédit Agricole Foundation signs threefold agreement with Agence Française de Développement
The Grameen Crédit Agricole Foundation and the French Development Agency* (Agence Française de Développement, AFD) recently signed a new partnership agreement with three components: a €2.2 million grant for co-financing projects for providing technical support to microfinance institutions; €6 million in financing for the Foundation's development in Sub-Saharan Africa; and a €10 million guarantee line allocated to financing granted by the Foundation. This agreement will enable the Grameen Crédit Agricole Foundation to further its development in Sub-Saharan Africa and help to strengthen the financial and operational capacities of the Foundation's local microfinance partners. The area covered matches the France's priority countries for public development aid in Africa.
* A public institution at the heart of the French cooperation programme, AFD works to fight poverty and boost growth in developing countries.