Crédit Agricole's Solidarity Bankers: a great success for this impactful scheme

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By Carolina Viguet, Director of Communication & Partnerships, FGCA

Three years after its launch, the success of the Solidarity Bankers program confirms the commitment of employees and the Group's desire to support projects with social impact. Since 2018, the program has launched 28 missions in some fifteen countries for 19 organizations supported by the Grameen Crédit Agricole Foundation. This represents 316 days of missions planned or completed by 34 Solidarity Bankers.

An impact project with the Grameen Crédit Agricole Foundation

Launched by the Grameen Crédit Agricole Foundation and Crédit Agricole SA in 2018, Solidarity Bankers is a skills-based volunteer program open to all Crédit Agricole Group employees in support of microfinance institutions and impact businesses supported by the Foundation.

The "Solidarity Bankers" program has a twofold objective: it enhances the skills of Crédit Agricole Group employees and provides additional support to microfinance institutions and corporate partners of the Grameen Crédit Agricole Foundation. This is the first time that a partnership of this type has been launched by the Crédit Agricole Group.

Senegal, Morocco, Cambodia… a great success

Some emblematic missions of the program:

  • With the support of Crédit Agricole de Franche-Comté, a Solidarity Banker spent two years helping La Laiterie structure the dairy sector in Senegal. Another Solidarity Banker from Crédit Agricole CIB spent two weeks supporting KOSSAM SDE, a subsidiary of La Laiterie, in the deployment of a digital application. Other missions for La Laiterie are planned for 2022.
  • A Crédit Agricole SA Solidarity Banker carried out a mission in cooperation with Crédit du Maroc to improve the anti-money laundering and counter-terrorist financing (AML-CFT) systems of the Al Karama Foundation, which grants microcredits to low-income people in Morocco.
  • In Cambodia, a Solidarity Banker spent two weeks, with the support of Crédit Agricole Val de France, to assist Cirque Phare (PPSE), a social enterprise that promotes social inclusion and youth empowerment through Cambodian culture and arts, in its financial management and organizational structure.

"This experience undoubtedly exceeded my expectations, both in terms of the mission carried out and on a human level." Olivier Mancini, Head of Recovery at Crédit Agricole du Languedoc, who carried out a mission for OXUS in Tajikistan in September 2021. Discover his testimony here.

"I especially remember the warm welcome and the wonderful encounters." Andreas Brunner, Internal Audit Supervisor at Crédit Agricole Assurances, who carried out a mission for OXUS in Kyrgyzstan in October 2021. Discover his testimony here.

Missions to be filled

Some missions are still available and others are being scheduled for 2022:

  • “LCB-FT” mission in favor of SEF in South Africa
  • “Digital Strategy” Mission for OXUS in Kyrgyzstan
  • “LCB-FT” mission in favor of Bimas in Kenya

With this initiative, the Crédit Agricole group is strengthening its Societal Project alongside the Grameen Crédit Agricole Foundation in favor of more inclusive finance.

You will find more information on the missions here.

To apply, send your CV and a cover paragraph to Carolina Viguet: carolina.viguet@credit-agricole-sa.fr

 

The Foundation's latest funding in Europe and Central Asia

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© Didier Gentilhomme

In the second half of 2021, the Grameen Crédit Agricole Foundation granted new financing in Europe and Central Asia, including one with Furuz, a new partner in Tajikistan. As of the end of December 2021, the Grameen Crédit Agricole Foundation had 81 partners in 37 countries and manages a portfolio of €82 million, including €461 million in fragile countries.

In Moldova, the Foundation granted a new loan to the microfinance institution Smart Credit for an amount equivalent to 580,000 euros. Smart Credit is a microfinance institution created in 2010 to help clients improve their living conditions, particularly among socially disadvantaged small entrepreneurs. The institution offers loans using the individual methodology. To date, Smart Credit has 3,253 clients, including 54% women and 69% clients in rural areas.

The Foundation also granted two new loans to Lazika in Georgia for a total amount equivalent to 1.4 million euros. Lazika is a microfinance institution established in 2000 by Oxfam Great Britain. Its mission is to facilitate access to financial services tailored to the needs of low- and middle-income entrepreneurs. Currently, Lazika has nearly 15,000 clients, of which 49% are women and 69% live in rural areas.

In Kazakhstan, the Foundation also granted new funding to Asian Credit Fund (ACF) for an amount in local currency equivalent to 1 million euros. ACF is a microfinance institution established in 1997 whose mission is to provide financial and development products and services to the poorest households in Kazakhstan. ACF's financial services are designed to promote rural household development, small business growth, and home ownership. The institution has nearly 27,000 clients living in 93% rural areas, 70% of whom are women.

In Tajikistan, the Foundation has granted initial funding to Furuz, a new partner, for an amount in local currency equivalent to 500,000 euros. Furuz is a microfinance institution that began its activities in 1999 as part of the microenterprise development program of the NGO Millennium Relief and Development Services. The institution offers financial services to small businesses. Furuz has more than 5,000 clients, including 30% women and 81% clients in rural areas.

To learn more, Click here.

The Foundation grants 7 new funding projects in Sub-Saharan Africa

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© Didier Gentilhomme

During the second half of 2021, the Grameen Crédit Agricole Foundation granted seven new financings in sub-Saharan Africa. To date, the Foundation manages a portfolio of €83 million, including €341 million in sub-Saharan Africa.

In Kenya, the Foundation has granted a new loan to the microfinance institution Bimas for an amount in local currency equivalent to 800,000 euros. Bimas is a microfinance institution whose mission is to offer innovative financial and non-financial services to people living in rural areas. Bimas has nearly 18,400 clients, including 59% women and 86% rural clients. The Foundation also granted a new loan to ECLOF Kenya for an amount in local currency equivalent to 1.2 million euros. ECLOF Kenya is a microfinance institution whose mission is to enable clients to realize their projects by offering financial and related non-financial services. To date, the institution has more than 38,000 clients, including 63% women.

In Benin, the Foundation granted a new loan to the microfinance institution Renaca for an amount in local currency equivalent to 1.5 million euros. Renaca is a microfinance institution that seeks to strengthen the economic base of vulnerable rural, peri-urban, and urban populations. The institution has nearly 41,000 clients living in rural areas, 571 of whom are women.

In Burkina Faso, the Foundation also granted a new loan to the microfinance institution ACEP Burkina for an amount in local currency equivalent to 2 million euros. ACEP Burkina is a microfinance institution that offers financial services to people excluded from the traditional banking sector. ACEP Burkina primarily targets micro, small, and medium-sized enterprises (VSEs and SMEs) in urban and peri-urban areas. It finances nearly 18,000 clients, including 211 women, and operates exclusively in urban areas.

In Cameroon, the Foundation granted a loan to another institution of the ACEP network, ACEP Cameroon, for an amount in local currency equivalent to 2 million euros. ACEP Cameroon is a microfinance institution whose mission is to support the development of Very Small Enterprises (VSEs) in the country's urban centers. To date, the institution has approximately 15,000 clients, including 341VSEs of women and 281VSEs in rural areas.

In Uganda, VisionFund Uganda received a loan equivalent to €400,000. VisionFund Uganda is a microfinance institution, a subsidiary of World Vision. The institution operates nationwide in Uganda with 23 branches. VisionFund expanded its reach into the West Nile region to serve refugees and their host communities as part of a pilot project developed by the Grameen Crédit Agricole Foundation. Today, the institution has nearly 45,000 clients, 951 in rural areas and 591 women.

Finally, the Foundation granted a new loan to the microfinance institution LAPO, in Sierra Leone, for an amount equivalent to 600,000 euros. The institution mainly grants microcredits to women in disadvantaged areas. Today, LAPO is one of the largest institutions in the country, covering 80% of the national territory. It has nearly 23,000 clients, including 93% women and 84% clients in rural areas.

To learn more, Click here.

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