Partenariat renforcé avec VisionFund INternational

Increased support from VisionFund International

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Partenariat renforcé avec VisionFund INternational

VISION FUND SENEGAL ©Philippe Lissac/GODONG for the Grameen Credit Agricole Foundation

The Grameen Crédit Agricole Foundation recently granted a loan of 3 million euros to the holding company VisionFund International, the central body of the VisionFund network specializing in microfinance. This support is part of a long-standing collaboration, with the Foundation already supporting VisionFund for 10 years.

With a total exposure of approximately €10 million spread across eight entities, VisionFund thus becomes the Foundation's first global partner. This cooperation aims to develop financial products tailored to women entrepreneurs, particularly in the agricultural sector, and especially those facing the challenges of climate change.

The objectives of this partnership also include measuring the impact and effectiveness of poverty reduction initiatives. In addition, the Foundation will continue to support VisionFund's efforts in sub-Saharan Africa and will support the opening of a new entity in Ukraine.

This initiative marks an important step in the Grameen Crédit Agricole Foundation's commitment to economic and social development throughout the world.

Publication of the 2023 Integrated Report

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The 2023 edition of the Foundation's integrated report has just been published, and you can now discover the highlights of the year in words and images:

As of December 31, 2023, the Foundation managed €82 million in outstanding loans for 72 microfinance institutions and 10 social enterprises in 36 countries. Women's entrepreneurship and the development of rural economies remain at the heart of its work: 78% of the 11.2 million beneficiaries are women, and 91% live in rural areas.

Our ambitions are aligned with an environment marked by climate change and the digital boom. The Foundation also takes into account the geopolitical situation of countries.
in which it intervenes.

Download the Report 

The SSNUP program supports Agronomika Finance corporation in the Philippines

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The SSNUP program:

Coordinated by ADA, the SSNUP program aims to boost the productivity of smallholder farmers in Asia, Africa, and Latin America by improving risk management and developing sustainable agricultural value chains. Funded by Luxembourg, Switzerland, and Liechtenstein, the program aims to improve the living conditions and food security of more than 10 million smallholder farmers. The Grameen Crédit Agricole Foundation is one of the impact investors implementing the project.

A high-impact agricultural project in the Philippines:

Agriculture is a crucial part of the Philippine economy, employing 24 billion people and contributing 8.9 billion to GDP in 2022. Despite its importance, the sector faces significant challenges related to climate change and extreme weather events. This project aims to address these challenges by providing financial stability and support to smallholder farmers who grow crops such as eggplant, beans, okra, squash, carrots, cauliflower, cabbage, peppers, cucumbers, tomatoes, onions, and lettuce.

Agronomy, is a financial institution created by Kennemer in 2016, a partner of the Foundation, to facilitate access to financing for small producers. With a portfolio of 3.4 million euros, Agronomika serves more than 1,000 customers and offers products such as agricultural establishment loans and micro and small business loans. This new project will expand its reach and impact, focusing on the specific needs of smallholder farmers.

Agronomika received a grant from the SSNUP, which will establish a new loan product designed for smallholder farmers and provide training to ensure successful implementation. The project places a strong emphasis on the integration of women and aims for at least 80 % beneficiaries to be women.

By empowering smallholder farmers with better financial tools and knowledge, this project aims to improve their productivity, resilience, and overall livelihoods, thereby contributing to a more sustainable and inclusive agricultural sector in the Philippines.

The latest visit of the financial inclusion program for refugees to Uganda

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Philippe Guichandut recently went on a mission to Uganda to evaluate the financial inclusion program for refugees implemented in partnership with UGAFODE.

A financial inclusion program for refugees:

With the Swedish International Development Cooperation Agency (AIDS)* and the United Nations High Commissioner for Refugees (UNHCR)*, the Foundation launched a program to promote access to financial and non-financial services for refugees and host communities in Uganda. The program provided debt financing and technical assistance to selected financial service providers, which will enable them to expand their lending operations and access to entrepreneurship training and basic financial literacy to more than 100,000 refugees and host communities, including 75% of women.

This program ended in October 2023.

UGAFODE a key partner:

Since its creation in 1994, UGAFODE mobilizes resources to provide affordable primary financial services to its clients. UGAFODE's mission is to transform the lives of Ugandans, economically and socially. The institution played a crucial role in the program's success, demonstrating proven expertise in providing financial services to refugees.

Learn more about the program Financial Inclusion of Refugees.

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To find out more

*The Swedish International Development Cooperation Agency (Sida) is an agency working on behalf of the Swedish parliament and government with the mission of reducing global poverty. Through its activities and in cooperation with other stakeholders, it contributes to the implementation of Swedish international development policy. The agency is present in 46 countries in Africa, Asia, Europe, and Latin America.
www.sida.se / @Sida

*The United Nations High Commissioner for Refugees (UNHCR) is mandated by the United Nations to coordinate international action for the protection of refugees. The organization provides essential assistance, helps guarantee fundamental rights, and develops solutions aimed at the well-being of its target populations. UNHCR works in 135 countries on behalf of 108.4 million people.
//www.unhcr.org/ @Refugees

Two bankers in solidarity in Benin

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The Foundation and Crédit Agricole SA launched in 2018 the Solidarity Bankers program, a skills volunteering program accessible to all Crédit Agricole Group employees. This technical assistance program aims to support microfinance institutions and social impact businesses funded by the Foundation.

Anthony Maudoux, responsible for IT Security within the Agricultural Credit of Corsica And Luc Carcenac, head of the Logistics department within the Agricultural Credit of Languedoc conducted a 10-day field mission to the microcredit institution RENACA in Benin in November 2023.

Anthony Maudoux and Luc Carcenac were tasked with strengthening the institution's cybersecurity. To achieve this, they had to deliver a comprehensive assessment of the information system's security and the cyber risks involved, a penetration test report and cybersecurity recommendations, a strategy for addressing existing attacks and vulnerabilities, and finally, a roadmap for implementing the new digital and cyber risk management strategy. The goal was to provide operational tools aligned with RENACA's resources.

"The Grameen Crédit Agricole Foundation has entrusted us with helping this microfinance institution develop its digital processes and open up to the internet. Above all, it is a human adventure based on commitment to the great causes defended by the Grameen Crédit Agricole Foundation. Anthony Maudoux and Luc Carcenac

RENACA in Benin, is a union of cooperatives supported by the Foundation since 2013, targeting low-income and vulnerable populations in rural areas. RENACA offers dedicated savings and loan products to more than 55,400 customers. The offering is based on a mobile application and the use of tablets, for secure and reliable customer transactions.

The Solidarity Bankers program aims to support these microfinance players through technical assistance and to promote the skills of the Group's employees involved in projects with a strong social impact.

Addressing the effects of rising socio-political risks in the Sahel

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During the African Microfinance Week in Lomé, Togo, organized by ADA In October 2323, a workshop was organized on Monday, October 16 at the initiative of the Foundation and in collaboration with the HAND and the CIF, to bring together and exchange with our partners and stakeholders from West and Central Africa on the socio-political situation in the area.

The document below brings together their shared experiences during the workshop and demonstrates their dynamism in addressing the situation and finding solutions. The Foundation will continue to be attentive and support its partners on this issue by collaborating with interested stakeholders.

First investment in Albania

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During the first half of 2024, the Foundation decided to intervene for the first time in Albania to support the Albanian-based microfinance institution Noa.

The Foundation has granted Noa initial funding equivalent to €2 million over a three-year period, helping to boost economic and social development in Albania.

Noa was established in 1998 and its mission is to provide comprehensive financial and non-financial services to Albanian entrepreneurs, farmers and households.

 

The Foundation joins the “2X Challenge” and commits to gender equality in social investment

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In the strategic plan “Ambitions 2025“, the inclusion of women is a strategic priority. The Foundation reaffirms its social mission, that of contributing to the fight against poverty and inequality through financial inclusion, particularly for women and in rural areas in some of the most fragile countries. Most often excluded from the banking system, women in rural areas nevertheless represent an economic force for the entire local economy and stakeholders in their community.

This focus on women came to fruition in March 2024, with the qualification of the Foundation at the 2x Challenge, which officially commits, on the basis of 3 criteria, to the economic empowerment of women, a central mission at the heart of its action:

Governance : The GCA Foundation's steering committee is composed of 40% women (2/5) and the board of directors is composed of 33% women (4/12).

Job : The Foundation has 55% women among its 20 direct employees. They also have policies and procedures aimed at promoting gender equality, including a childcare contribution policy and a transparent, accessible salary scale that is shared with all employees.

Wallet: 71% of the Foundation's investments meet at least 1 of the 2X Challenge criteria.

This international initiative aims to promote gender equality, female entrepreneurship and support the reduction of inequalities through financial inclusion.

The 2X Challenge, launched in 2018, brought together several international financial institutions, which strengthened their commitment to investing in gender equality to promote women's access to quality jobs and financing opportunities.

NOBIN: a new initiative to support women's entrepreneurship in Senegal

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March 20, 2024, a partnership was officially signed between the Foundation, the Grameen Trust And Yunus FranceThis collaboration marks the beginning of an innovative program called NOBIN, aimed at supporting women's entrepreneurship in Senegal, which has already proven successful in Bangladesh through the Grameen Trust.

This signing took place in the presence of Veronique Faujour, General Delegate of the Grameen Crédit Agricole Foundation, Professor Muhammad Yunus, member of the board of directors of the Grameen Crédit Agricole Foundation and president of the Grameen Trust, as well as Yoan Noguier, director of Yunus France.

NOBIN, launched in 2013 in Bangladesh, is an innovative program that offers a new way to finance women and young entrepreneurs with personalized support and mentoring. Currently deployed in Dakar, Senegal, with 2,500 people in working-class neighborhoods, NOBIN aims to accelerate the creation of 250 businesses over a period of 3 years, thus enabling women without access to financial services to realize their business projects.

The Foundation is fully committed to this initiative by investing 500 000€ in the project, with the aim of creating a sustainable financing mechanism and deploying NOBIN on a larger scale in Senegal over the next 3 years.

This social entrepreneurship initiative enables women who lack access to financial services to bring their ideas to life, accelerate the launch of their businesses, and thus gain access to the formal economy.

This new collaboration fits perfectly into the objectives Ambitions 2025 of the Foundation, which aim to innovate to support vulnerable women and young people, while strengthening partnerships to amplify its actions.

Read the press release here

New partnership in Benin with UNACREP

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Continuation of the Foundation's funding in Sub-Saharan Africa 1st semester 2024 with the agreement of an initial loan for an amount in local currency equivalent to 1.5 million Euros to the microfinance institution UNACREP "National Union of Rural Savings and Loan Banks Benign, over a period of three years. The Foundation currently has four other partners in Benin.

UNACREP is a microfinance institution, created in 1992 by the NGO Sasakawa / Global 2000, whose mission is to be the main financial partner of agricultural entrepreneurs in Benin. Among the 21 063 customers, more than 50 % of the loan portfolio is dedicated to agricultural entrepreneurs, active in all functions of the value chain. 40 % customers are women, mainly active in the processing and sale of agricultural products. UNACREP It also provides productive loans to micro-entrepreneurs active in the trade sector and consumer loans to civil servants. Clients borrow individually (over 60%) or organized into groups and cooperatives.

With this new loan, the Foundation strengthens its presence in Sub-Saharan Africa, which represents 30,% of the total outstanding amount monitored by the Foundation at the end of March 2024.

To learn more about our partners, Click here.

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