The Grameen Crédit Agricole Foundation invests in Palestine

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© Philippe Lissac

In November, the Grameen Crédit Agricole Foundation signed a new partnership in Palestine with the microfinance institution FATEN, for a loan equivalent to one million euros in local currency. The Foundation now has two partners in Palestine, where it has been present since 2012.

FATEN, an NGO that provides financial products and services to the country's small entrepreneurs, as well as farmers who own isolated land near Israel's separation wall. Its product offerings include group loans, individual loans, Islamic loans, and housing and startup loans.

FATEN is the largest microfinance institution in the region and operates in remote areas. The current stability has allowed the institution to expand while continuing to serve a majority of women, with a strong presence in rural areas and refugee camps.

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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator, and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.

More information about the Foundation's partners here.

The White Paper on Agricultural Insurance

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© Didier Gentilhomme

The White Paper published by the International Confederation of Agricultural Credit (CICA) in November is intended to contribute to the Sustainable Development Goals for more resilient agriculture that is better protected against climate hazards.

Since its creation in 1950, the International Confederation of Agricultural Credit (CICA) has held an annual Congress, now known as the Meetings. This provides an opportunity for the leaders of the Confederation's member banking and financial institutions to present research and discuss topics of common interest.

These meetings take place on all continents in order to offer members an opening to other countries and agricultural, banking and cultural realities.

On the occasion of the 6th World Congress on Agricultural and Rural Finance, held on November 12 and 13 in New Delhi, CICA published The Agricultural Insurance White Paper, the result of 23 contributions that shed light on the challenges of agricultural insurance. Through the testimonies of various stakeholders in all regions of the world, the White Paper aims to contribute to the Sustainable Development Goals, for a more resilient and better protected agriculture against climate hazards. FARM of Crédit Agricole collaborated closely on the publication, which highlights how risk management is a key condition for improving the economic, social, and environmental performance of agriculture, in the North and the South.

Discover the White Paper here.

PAGE – Foundation

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The Foundation continues its investments in Europe and Central Asia

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In recent months, the Grameen Crédit Agricole Foundation has continued to expand its portfolio with new investments in Eastern Europe and Central Asia.

It has thus granted a new loan to the microfinance institution Monte Credit in Montenegro, for an amount of 1 million euros over a period of 3 years. Monte Credit offers its clients mainly agricultural loans and loans for commercial activities, using the individual lending methodology. To date, the institution, which manages a portfolio of 7.4 million euros, has 4,600 clients, including 55% women. 56% of its clients are located in rural areas.

The Foundation also granted two new loans totaling €2.5 million to the Georgian microfinance institution Lazika, whose mission is to facilitate access to financial services tailored to entrepreneurs. With a portfolio of €14 million, the institution now has approximately 11,000 clients, including 471,000 women and 751,000 clients in rural areas.

Finally, the Foundation granted a new three-year loan to OXUS Tajikistan for €1.2 million. OXUS Tajikistan is a microfinance institution focused on operations in rural areas, where more than 80,000 of its clients live and work. To date, the institution has 14,000 clients, including 39,000 women, and manages a portfolio worth €11.3 million.

With these new investments, the Foundation now has 16 partners spread across 7 countries in the region, representing a portfolio of outstanding loans of 16.6 million euros, or 19.81% of the total amount of outstanding loans managed by the Foundation at the end of October.

More information about the Foundation's partners...

The Foundation makes a new investment in SFA

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© Philippe Lissac

The Grameen Crédit Agricole Foundation has signed a new financing agreement with Sénégalaise des Filières Alimentaires (SFA), a partner of the Foundation since 2013, in the form of an equity investment. With this new equity investment of €137,000, the Foundation is strengthening its support for SFA, a social enterprise developing an inclusive value chain based on the production and marketing of rice.

The SFA encourages the production of quality rice by smallholder farmers in the Senegal River Valley through a long-term partnership. It provides them with access to financing and technical support. The paddy is processed into white rice and sold on the Senegalese market under the Terral brand. The SFA thus contributes to Senegal's goal of self-sufficiency, which still imports 751,000 tons of the rice it consumes.

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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator, and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.

The Foundation funds a new partner in Bosnia and Herzegovina

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©Philippe Lissac/GODONG

The Grameen Crédit Agricole Foundation continues to expand its activities in Bosnia and Herzegovina with the signing of a new partnership with the microfinance institution Partner Microcredit Organization (Partner), to which it has granted an initial loan of €2 million over a period of three years.

Partner is a multi-ethnic organization founded by Mercy Corps in 2000. It was the first microfinance institution to operate in post-war Bosnia and Herzegovina. Partner, one of the country's leading microfinance institutions, provides a range of business, agricultural, and housing loans through a network of approximately 30 branches. To date, the institution has over 40,000 clients, including 42% women and 87% rural clients, and manages a portfolio of nearly €70 million.

With this new partnership, the Foundation has three partners in Bosnia and Herzegovina and 16 partners in the Eastern Europe / Central Asia region, representing nearly 20% of partners and 26% of outstanding loans monitored by the Foundation at the end of October 2019.

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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator, and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.

Meeting with three corporate foundation leaders – What impact?

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© FGCA

In France, nearly half (47%) of corporate foundations were created between 2000 and 2009, according to the latest National Survey on Funds and Foundations published by the Philanthropy Observatory of the Fondation de France. 43% of corporate foundations were created over the last 10 years, including 18 % between 2015 and 2017 (1). Corporate foundations are demonstrating dynamism and are becoming levers of innovation and transformation for companies.

As part of the meetings of the Circle of Friends of the Grameen Crédit Agricole Foundation, the Evergreen Campus of Crédit Agricole SA in Montrouge welcomed three directors of corporate foundations on November 28th who came to present their careers but also and above all the commitments and impact of the foundations they manage.

Under the moderation of Eric Campos, General Delegate of the Grameen Crédit Agricole Foundation, Miren Bengoa, General Delegate of the Chanel Foundation, Aurélie Bellemin, General Delegate of the Fondation Solidarités by Crédit Agricole Centre-est, and Viviane Olivo, General Delegate of the Fondation Crédit Agricole Nord de France, shared with the audience the objectives and values of their respective Foundations and their point of view on the impact of the work of corporate Foundations on the business world and on society as a whole.

To find out more:

CHANEL Foundation
Solidarity Foundation by Crédit Agricole Centre-est
Crédit Agricole Nord de France Foundation

(1) Article “Philanthropy: the boom in corporate foundations”, Le Monde, 04/06/2019

Plastic Odyssey and Crédit Agricole renew their partnership

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© Plastic Odyssey

19 tons of plastic enter the ocean every minute. Yet this waste can be an invaluable resource! Making recycling this waste a profitable and job-generating activity: that's the challenge facing the Plastic Odyssey team. Merchant Navy officers, a sales manager, and an engineer, these young entrepreneurs decided to build an ambitious project to raise awareness about plastic waste recycling and share expertise with emerging countries.

An expedition to share low-tech and open-source plastic recycling technologies

For three years, the Plastic Odyssey team will sail the world's seas on a ship to fight plastic pollution. The expedition will stop in emerging countries to encourage local waste reduction initiatives and the creation of small recycling plants. At each stop, Plastic Odyssey will share low-tech and open-source recycling technologies to foster the development of micro-entrepreneurship and the circular economy. Training in plastic sorting and recycling will also be offered.

This project does not aim to collect plastic present in the oceans but to act upstream, by working with local populations on depollution solutions, so that land-based waste does not end up in the oceans.

The first ship to move forward thanks to recycled plastic

The ship will be ready to sail in the second half of 2020. Measuring 40 meters in length, it will run on fuel made from plastic waste using a pyrolysis plant installed at the rear of the boat: a first in the field of navigation.

For 3 years, he will successively travel the coasts of Africa, Latin America, and Asia to raise awareness of plastic pollution in the oceans, encourage the reduction of plastic and its recycling, and transform plastic waste into resources.

The fight against plastic pollution: a major societal issue

The fight against plastic pollution is a concern that Crédit Agricole shares with Plastic Odyssey. The Group was already a partner of Plastic Odyssey in 2018, during the prototyping phase of the project. Crédit Agricole, through 16 entities(1), is continuing this commitment by supporting Plastic Odyssey's initiative with €1.2 million over 5 years. The support provided for this expedition is in line with the Crédit Agricole Group's Social Project.

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(1) 7 Regional Banks (Alpes Provence, Aquitaine, Atlantic Vendée, Charente-Maritime Deux-Sèvres, Finistère, Normandy Seine, Provence Côte d'Azur) as well as BforBank, CAMCA Mutuelle, Crédit Agricole Assurances, CACEIS, Crédit Agricole CIB, Crédit Agricole Immobilier, Crédit Agricole SA, Crédit Agricole Poland and Crédit Agricole Italy.

The Foundation invests for the first time in South Africa

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© Didier Gentilhomme

In October, the Grameen Crédit Agricole Foundation made its first investment in South Africa, in the Phakamani Foundation. The institution provides financial products and services to poor women microentrepreneurs, enabling them to succeed in microenterprises. Phakamani's microentrepreneurship program is modeled after Grameen Bank. Its system of training, group borrowing, and ongoing support provides both empowerment and practical assistance for microenterprise development.

The Phakamani Foundation's program targets rural and peri-urban areas where unemployment rates are very high. The neediest individuals within these communities are identified using a household index, an asset assessment, and a baseline interview. Women who may be interested in starting their own microenterprises are invited to familiarize themselves with the Phakamani program. To date, the institution has more than 31,000 clients, all located in rural areas, and manages a portfolio of nearly €3 million.

A second investment in South Africa is being finalized with SEF, a microfinance institution with 197,359 active clients (99% women).

Crédit Agricole commits to a complete exit from coal

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To strengthen its efforts and commitments to the energy transition, Crédit Agricole has adopted a Group climate strategy, aligned with the Paris Agreement, which will be implemented across all its entities. Through this strategy, the Group aims to make green finance one of its growth drivers.

To strengthen its efforts and commitments to the energy transition, Crédit Agricole has adopted a Group climate strategy, aligned with the Paris Agreement, which will be implemented across all its entities. Through this strategy, the Group aims to make green finance one of its growth drivers. In this context, Crédit Agricole is the first major bank to make phasing out coal a climate imperative.

There are several components to this commitment:

  • Gradual reduction of portfolio exposure to coal in a scenario of a total exit by: 2030 for OECD countries / 2040 for China / 2050 for the rest of the world.
  • Communication of the coal exposure of portfolios annually from the end of 2019.
    Request for companies to communicate a plan for the withdrawal of their coal assets (according to the 2030/2040/2050 schedule depending on the location of their assets).
  • Termination of relations with developers of new thermal coal capacities from 2019.
  • No development of relationships with companies whose coal activity exceeds 25% of turnover. For companies beyond this level and with a degraded transition rating, only financing for renewable energy projects will be possible.
  • Placement of companies outside the process in a “under transition vigilance” portfolio leading to a reduction or even a freeze of our financial support.

A picture update with Eric Campos, Director of CSR at Crédit Agricole SA and General Delegate of the Grameen Crédit Agricole SA Foundation.

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