The global landscape of’international aid is currently undergoing a profound transformation. With a reduction of 7.4 % in 2024 and with even sharper cuts expected in 2025, many development sectors are under strain — but few as much as that of the’financial inclusion.

A new field investigation, led by the Grameen Crédit Agricole Foundation in partnership with CHERRY+SPTF and the Financial Inclusion Equity Council (FIEC), sheds new light on the repercussions of these aid cuts. Based on responses from 86 organizations operating in 58 countries, The study highlights both the immediate consequences for Financial Service Providers (FSPs) and the broader impacts on the vulnerable populations that they accompany.

Although the inclusive finance sector was designed to be self-sufficient, The data shows that 58 % of the FSPs still depend — directly or indirectly — on programs or funding supported by international aid. These results mark a turning point for the sector, which now calls for strategic adaptation and strengthened cooperation between stakeholders.

 

Budget cuts hit rural and small institutions the hardest.

According to the investigation, 60 % of the FSPs declare that they are directly affected by the aid cuts. The most affected areas concern the partnerships (70 %), financial resources (53 %) and the quality of the customer portfolio (57 %). Small institutions (Level 3 FSPs) and those operating in fragile countries are the most vulnerable, as are the actors involved in the agricultural and rural finance — a segment heavily dependent on guarantees and programs supported by donors. A worrying fact, 67 % of respondents expect the situation to deteriorate in 2025–2026.

 

The most vulnerable customers suffer the consequences

The investigation highlights that the vulnerable customers are the first to be affected by these disruptions. Access to agricultural financing, green and climate finance, as well as to services intended for the poorest populations is among the most threatened areas. Near the half of the FSPs (49 %) They finance agricultural and livestock activities, sectors essential to rural economies but still heavily dependent on aid programs. The cascading effects on food security, gender inclusion, and community resilience could be considerable.

 

Strategic shifts and resilience test

Despite a challenging environment, the survey paints a picture of a sector of remarkable resilience. 57 % of respondents believe that inclusive finance remains generally sound. 44 % of the FSPs have already adapted their strategies, placing greater emphasis on the quality of the wallet, strategic alliances and customer protection.

The results also reveal a evolution of mentalities : 43 % of institutions are now focusing more on the sustainability, local partnerships and innovation. However, respondents point out that if the impact investors appear as key players in filling the funding gap, their expectations may not always align with the market reality.

 

A call to strengthen cooperation and innovation

The study concludes with a call to action to all stakeholders to:
1️⃣ Strengthen the local cooperation between public and private actors; ;
2️⃣ Promote mechanisms of mixed finance (blended finance) to optimize public and private resources; ;
3️⃣ Develop synergies between FSPs thanks to the pooling of resources and networks; ;
4️⃣ Prioritize the customer protection through the design of innovative and inclusive products; ;
5️⃣ Investing in the impact measurement in order to improve accountability and attract more private investors.

 

As one respondent — the financial director of a bank in the Dominican Republic — summarized:

" The inclusive finance sector is like a rock in the middle of a global storm. Despite aid cuts and geopolitical tensions, it remains incredibly strong because it focuses on what matters most: the financial needs of people in their communities. »

This new reality calls for greater innovation, cooperation, and collective resilience. The study's findings confirm that inclusive finance, deeply rooted in local economies and human needs, remains one of the most resilient and meaningful in the changing context of international aid.

 

➡️ Link to the full report

From October 29 to 31, 2025, the city of Bordeaux hosted for the first time in France the World Forum on the Social and Solidarity Economy (GSEF). This major international event brought together more than 10,000 participants came from five continents elected officials, leaders, experts, field actors, representatives of development agencies and international organizations, all mobilized to promote more sustainable, equitable and inclusive economic models.

The Grameen Crédit Agricole Foundation was represented there by Véronique Faujour, General Delegate, and Philippe Guichandut, Secretary General. Their participation helped to highlight the Foundation's role in financing the social and solidarity economy and its commitment to inclusive finance in the service of sustainable development.

 

Two presentations particularly highlighted the Foundation's presence during this 7th edition of the Forum:

• During the plenary session dedicated to financing the social and solidarity economy, Véronique Faujour presented the Foundation's mission, strategic priorities, and action tools. She notably highlighted the launch of the fund Women Empowerment for Climate, An impact fund dedicated to women's economic empowerment and climate adaptation. This fund targets three key sectors in which women play a vital role: access to clean water, access to renewable energy, and the promotion of sustainable agricultural techniques. These initiatives aim to strengthen the resilience of local communities to climate change, while fostering greater economic inclusion for women.
• During a workshop on financial inclusion and women's leadership, Véronique Faujour emphasized that successful transitions are built from the ground up, closely aligned with community needs. She highlighted the importance of a leadership exercised by women, for women and with women, an essential condition according to her, for local solutions to inspire and guide global development policies.

 

 

This edition of the GSEF, placed under the sign of dialogue, of the cooperation and of the sharing experiences, This has enabled the creation of new bridges between public, private, and civil society actors. The fruitful discussions throughout the forum have given rise to concrete perspectives for strengthening the collective impact of the social and solidarity economy in the years to come.

The meeting concluded with a final declaration that will define a common roadmap for the next two years, confirming the global momentum towards a fairer, more inclusive and resilient economy.