Grameen Crédit Agricole Foundation Week

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Crédit Agricole SA and the Grameen Crédit Agricole Foundation are organizing a series of events in November to mark the Foundation's tenth anniversary. Two meetings with Group employees will take place on the Crédit Agricole Campus in Montrouge and Paris on November 19 and 22, 2018.

The Foundation, 10 years of action alongside the Crédit Agricole group

Created 10 years ago under the joint leadership of Crédit Agricole executives and 2006 Nobel Peace Prize winner Muhammad Yunus, the Grameen Crédit Agricole Foundation is a multi-sector operator that aims to promote inclusive finance. An investor, lender, technical assistance coordinator, and fund advisor, the Foundation supports more than 70 microfinance institutions and social enterprises in 35 countries with over €77 million in commitments.

Since its inception, the Crédit Agricole Group has supported the Foundation's work in the microfinance and social entrepreneurship sectors. Ten years later, ties are strengthening and partnerships with the Regional Banks and Group entities are consolidating. To mark its 10 years of collective action, Crédit Agricole SA and the Grameen Crédit Agricole Foundation are organizing "Grameen Crédit Agricole Foundation Week" in November, with a series of events open to Crédit Agricole Group employees.

A birthday celebrated with the Group's employees

Foundation Week will kick off with the event "The Foundation's Actions in Support of Socially Useful Entrepreneurship," held on November 19 in the Green Auditorium of the Crédit Agricole campus in Montrouge. The event will bring together social entrepreneurship experts and entrepreneurs supported by the Foundation to discuss key issues in the sector. It will also be an opportunity to present the check for the amount raised through the "Centimes Solidaires" initiative to the NGO Entrepreneurs du Monde. The donations collected will be used to support entrepreneurship projects for refugees, single parents, and the homeless.

The event "Investing in Africa: Myth or Reality" will take place on November 22nd at the Red Amphitheater in Montrouge. This event will focus on the opportunities and challenges associated with investment operations in Africa and will address the issue of the impact of entrepreneurship and financial inclusion on the African continent. Investors and investment experts in Africa will be present at this event, who will share their perspectives on the theme of development and financial inclusion in African countries.

UNHCR, Sida and the Foundation join forces for the inclusion of refugees

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© UNHCR

The Grameen Crédit Agricole Foundation, UNHCR, and Sida are joining forces to develop a program that promotes access to credit for refugees and host communities. Microfinanza has conducted an initial study in Uganda and Jordan, with the possibility of expanding the program to other countries.

A financial inclusion program for refugees

Often perceived as too risky a clientele, refugees generally receive little or no service from financial service providers. However, the needs of these populations are significant, and access to financing for income-generating activities can contribute to their social inclusion. To address this issue, the United Nations High Commissioner for Refugees (UNHCR), the Swedish Cooperation Agency, and the Grameen Crédit Agricole Foundation are working together to prepare a credit access program for refugees and host communities. The first phase of preliminary research has just been completed.

The Grameen Crédit Agricole Foundation was selected to manage the technical assistance and support its partner microfinance institutions in developing a range of products and services tailored to refugee populations. Under the Foundation's coordination, field missions were conducted by Microfinanza to assess refugees' needs for financial and non-financial services in Uganda and Jordan, the first two countries in the program.

A first assessment in Uganda and Jordan

In Uganda, despite a well-structured refugee reception policy that promotes their integration, employment opportunities are limited. Approximately 1.5 million refugees currently live in the country, mostly concentrated in rural areas, where the difficulties of finding employment and accessing financing are even more significant.

In Jordan, 750,000 refugees are currently registered. Due to regulatory obstacles, this population remains largely excluded from the labor market. At the same time, the local microfinance sector, still very young, lacks the resources necessary to expand the range of initiatives developed for refugee groups.

It was in these contexts that the program's first study was conducted. Beyond assessing refugees' financial needs, the study established avenues for better addressing them. The second phase of the program will aim to develop, through financing and technical assistance, the services offered to refugees by the Grameen Crédit Agricole Foundation's partner microfinance institutions.

You can download the reports by clicking on the links below:

Full report (EN): Jordan – Uganda
Executive Summary (EN): Jordan – Uganda

Access the blog on the Findev Gateway website by clicking here.

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To find out more

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 128 countries on behalf of 74.1 million people.
//www.unhcr.org/ / @Refugees

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 35 countries in Africa, Asia, Europe, and Latin America.
www.sida.se / @Sida

Microfinanza is a company specializing in services and technical assistance related to the microfinance sector. Its mission is to contribute to financial inclusion and participate in the growth and professionalization of the sector. With over fifteen years of experience, Microfinanza operates through a variety of activities: consulting projects, training, evaluations, and the preparation of studies and research.
//www.microfinanza.com/

Solidarity Bankers, the Crédit Agricole group's volunteer program

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© FGCA

At the initiative of the Grameen Crédit Agricole Foundation and Crédit Agricole SA, volunteer missions with skills labeled "Solidarity Banker" are offered to employees on behalf of microfinance institutions or "social business" type companies, partners of the Foundation.

Many Crédit Agricole Group employees volunteer for solidarity projects. To support this momentum, the Group launched "CA Solidaires," a program that promotes employee engagement in projects with a positive societal impact. It is within this framework that a new engagement format is now offered to the Group's employees: Solidarity Leave. At the initiative of the Grameen Crédit Agricole Foundation and Crédit Agricole SA, skills-based volunteer missions labeled "Solidarity Banker" are offered to employees on behalf of microfinance institutions or social businesses that are partners of the Foundation.

This is a unique partnership in the history of Crédit Agricole and the Grameen Crédit Agricole Foundation. With "Solidarity Banker," the Group and the Foundation are leveraging their synergies and strengthening their efforts to promote sustainable finance. The goal: to leverage the skills of Crédit Agricole Group employees and provide additional support to microfinance institutions and social enterprises supported by the Foundation through pro bono assignments carried out by employees.

First missions to Burkina Faso, Senegal and Cambodia

The first mission carried out under the "Solidarity Banker" program took place in Burkina Faso, in cooperation with Crédit Agricole Assurances. Eduardo Cardoso de Miranda, a borrower insurance expert at CA Assurances, assisted the Foundation in conducting due diligence on the company CIF-VIE. Created in 2013 with the support of RCPB, the main Burkinabé microfinance cooperative network, and the NGO ADA, CIF-VIE operates in the microinsurance sector and holds 6% of the local market share. Currently entering a new stage in its growth, CIF-VIE is opening its capital to new shareholders. Thanks to the contributions made by CA Assurances, the Foundation was able to better understand the structure and assess the possibility of investing in it. The evaluation of the CIF-VIE financing application is underway.

A second mission took place in Senegal, in favor of the Laiterie du Berger, a social enterprise in which the Foundation is a shareholder and which currently supports more than 800 Fulani herders in the north of the country. With the support of Crédit Agricole Franche-Comté (a shareholder of the Laiterie du Berger), Jonathan Michaud, an agricultural engineer from the Caisse Régionale, went on a two-week technical assistance mission. The objective: to structure an operational framework allowing the transition from experimentation to the deployment of 15 pilot mini-farms of the Laiterie. The result of the mission was the formalization of an action plan and a more ambitious collaboration between Crédit Agricole Franche Comté and the Laiterie is envisaged.

With Banque de Proximité à l'International (BPI), a mission took place between September and October in Cambodia for Chamroeun, a microfinance institution supported by the Foundation. François Galland, Director of International Human Resources, spent two weeks on the ground to help improve the HR management of Chamroeun, a microfinance institution supported by the Foundation. The HR strategy developed following the mission will support the organizational restructuring of Chamroeun, which currently serves more than 25,200 clients in Cambodia, including 821,300 women.

Upcoming missions to Morocco and Kazakhstan

Before the end of 2018, two more missions could be launched for Al-Karama in Morocco and KMF in Kazakhstan. Al-Karama currently serves more than 26,200 clients in Morocco. It should be able to benefit from financing and technical assistance as part of a cooperation scheme between the Foundation and Crédit du Maroc, including a "Solidarity Banker" mission to improve its anti-money laundering and counter-terrorist financing (AML-CFT) systems. KMF is the leading microfinance institution in Kazakhstan with more than 220,000 active borrowers and a portfolio of €257 million. The institution will receive an expert from Crédit Agricole to help it develop its product and service offerings.

The Crédit Agricole Group's commitment to the Grameen Crédit Agricole Foundation is thus strengthened with the "Solidarity Banker" program, which marks the mutualist Group's commitment to sustainable finance, capable of promoting a more responsible and better shared economy.

How to apply?

Several missions are coming up on CA Solidaires. To discover them:
– Go to the CA Solidaires website “Find your mission”
– Enter “Grameen Foundation” in the search bar. All Solidarity Leave offers will appear!
– Click on the offer of your choice, you will find all the information necessary for your application.
More information: carolina.herrera@credit-agricole-sa.fr

“Let’s Change Our Perspectives” Photo Exhibition: 10 Years of the Foundation

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As part of the celebration of its 10th anniversary, the Grameen Crédit Agricole Foundation, in partnership with Crédit Agricole SA, is organizing the photo exhibition "Changing Our Perspectives" on the Crédit Agricole campuses in Montrouge and Saint Quentin.

A photo exhibition to celebrate the Foundation's 10th anniversary

The Foundation was created in 2008 under the joint leadership of Crédit Agricole SA and the 2006 Nobel Peace Prize winner and founder of the Grameen Trust, Professor Muhammad Yunus, to participate in the fight against poverty by promoting microfinance and social entrepreneurship. Today, with €77 million in commitments and more than 70 partners in some thirty countries, this historic partnership is being honored as part of the photo exhibition "Changing Our Perspectives: 10 Years of the Grameen Crédit Agricole Foundation."

Through photos of beneficiaries of the partner microfinance institutions that the Foundation supports, the exhibition takes stock of 10 years of activity in favor of inclusive finance and demonstrates the importance of microfinance and social entrepreneurship as levers of socio-economic development.

The exhibition will be open from October 18 to November 30 on the Crédit Agricole campus in Montrouge and from December 1 to 31 on the Saint Quentin campus.

A preview with the Circle of Friends of the Foundation

The exhibition preview will take place during the third meeting of the Circle of Friends of the Foundation, on Thursday, October 18, from 5:30 p.m. to 7:00 p.m., at the Forum of the Crédit Agricole Campus in Montrouge. The Circle is a space open exclusively to employees and directors of the Crédit Agricole Group (entities and Regional Banks) interested in the activities and mission of the Foundation. It is a circle for sharing information and exchanging ideas that will contribute to discussions around synergies to be exploited with the Group in the years to come. To date, the Circle has more than 150 members from the Group's various business lines.

This meeting will be an opportunity to take stock of two new projects launched this year by the Foundation and Crédit Agricole: "Centimes solidaires" and "Banquier Solidaire." "Centimes Solidaires" is an initiative launched in October in Crédit Agricole's collective restaurants in Montrouge and Saint-Quentin to finance entrepreneurial projects. "Banquier Solidaire" is a skills-based volunteer program for Group employees on behalf of the Foundation's partner institutions. It will also be an opportunity to discover the events organized in November on the Montrouge campus during Grameen Crédit Agricole Foundation Week.

Crédit Agricole supports entrepreneurship projects for refugees

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The Grameen Crédit Agricole Foundation and Crédit Agricole SA are launching "Centimes Solidaires," an initiative aimed at financing entrepreneurial projects by mobilizing Crédit Agricole employees.

Promoting the commitment of Crédit Agricole employees

Many Crédit Agricole Group employees volunteer for solidarity projects. To support this dynamic, the Group has created "CA Solidaires," a program that promotes employee engagement in projects with a positive societal impact. It is within this framework that the "Centimes Solidaires" operation will be launched at the initiative of the Grameen Crédit Agricole Foundation and Crédit Agricole SA to finance entrepreneurship projects. This operation, the first of its kind between Crédit Agricole and the Foundation, will be repeated annually to support various projects with a strong social impact.

For one week each month in October and November, employees at the Crédit Agricole campuses in Montrouge and Saint-Quentin will be invited to make a donation of 50 cents when paying for their meals in the collective restaurants. Crédit Agricole SA, Crédit Agricole Centre-Est, and the Grameen Crédit Agricole Foundation will contribute to the operation. The total amount collected will support the "Programme France" program, run by the French NGO Entrepreneurs du Monde.

Supporting an inclusion program through entrepreneurship

Piloted since the beginning of 2018 in the Lyon region with the support of the Solidarités Foundation by Crédit Agricole Centre-est and Crédit Agricole Solidarité et Développement, Entrepreneurs du Monde's "France Program" aims to restore hope to people in situations of financial vulnerability and proven social exclusion in France. Through group training and personalized support for business creation, the program aims to support refugees, homeless people, and single parents in the creation and development of their entrepreneurial projects.

The proposed support takes place in three stages: listening and guidance to assess the feasibility and relevance of the project, pre-creation support, and post-creation monitoring. Grocery stores, restaurants, computer repairs, and fashion design are a variety of businesses that will be supported under the program, which has already supported 13 project leaders to date. For the coming years, the goal is to reach a larger number of beneficiaries, with a total of 40 project leaders by the end of 2019 and 50 in 2020.

The "Centimes Solidaires" initiative is being launched to mark the 10th anniversary of the Grameen Crédit Agricole Foundation. The funds raised will be presented at an event bringing together Group employees on November 19 in Montrouge.

VERT's new factory opens in Kenya

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© FGCA

August 29, 2018, will undoubtedly be an unforgettable day for the employees and farmers who work for VERT Ltd in Kenya: the long-awaited inauguration of the new factory in Machakos, which should allow VERT Ltd to move up a gear.

Until now, this social enterprise, in which the Foundation has been a shareholder since 2016, only had a relatively small warehouse in the suburbs of Nairobi, near the airport, to receive the fresh vegetables (green beans, peas, etc.) it exports mainly to the Netherlands and Belgium. The new factory comprises two main buildings and was financed by capital contributions from the Grameen Crédit Agricole Foundation and the other new shareholder, Kampani, a Belgian investment fund. With this new facility, VERT Ltd will be able to increase the export volume of fresh vegetables, but also develop a new product line: the production of mango and passion fruit pulp mainly for the local market and, eventually, the marketing of dried mangoes for export. In addition, the factory includes a closed circuit for the use of water in the pulp extraction process and the reprocessing of wastewater for local drinking water consumption.

It is therefore with great pride that the Foundation participated in the inauguration alongside the founders of VERT Ltd, Jane and Nderito Maina, company employees, representatives of smallholder farmers and local authorities (Kenya Association of Manufacturers, County Representative, Micro Enterprise Support Programme Trust). For the 1,800 smallholder farmers with whom VERT Ltd works directly, this factory is a lever to significantly increase their income and the possibility of diversifying their production. By promoting stable outlets for export or for local markets, VERT Ltd will be able to amplify its role and increase its social and economic impact on smallholder farmers in Kenya.

Crédit Agricole supports the development of the Foundation

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© Philippe Lissac

The Crédit Agricole Group is supporting the Grameen Crédit Agricole Foundation's development strategy with new funding of €14 million from CACIB (Crédit Agricole Corporate & Investment Bank). This funding allows the Foundation to continue its commitment to serving underbanked populations.

The Crédit Agricole Group, a key partner of the Foundation

The Foundation was created in 2008 under the joint leadership of Crédit Agricole SA and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank. Since its inception, the Crédit Agricole Group has supported the Foundation's activities in the microfinance and social entrepreneurship sectors.

It is within the framework of this historic partnership that a €14 million loan was granted by CACIB to the Foundation. This financing, in dollars and euros, allows the Foundation to continue and expand its commitment to the financial inclusion of disadvantaged populations by creating or strengthening small income-generating activities in the countries where it operates.

Renewed growth objectives for the Foundation

The loan granted by CACIB contributes to the financing of the Foundation's development plan, which has set the objective of achieving a portfolio of commitments of around 100 million euros by 2021. At the end of August 2018, the Foundation's outstanding amount in favor of microfinance institutions stood at 58 million euros and the total financing granted by the Foundation since its inception now exceeds 200 million euros, more than four times its initial capital.

The Foundation has signed strong partnerships with BPI subsidiaries, which now allows it to operate in countries where the Group is present, particularly in retail banking.

The Foundation is a partner of the 2018 Microfinance Barometer

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The Grameen Credit Foundation is strengthening its efforts to promote the sector by becoming a financial partner of the Microfinance Barometer. A flagship publication of the Convergences association, the Barometer presents key figures for the sector and traces its main trends in France and internationally. The Foundation participated in the launch of the 2018 edition at the 11th Convergences World Forum.

A partnership to promote microfinance

The Grameen Crédit Agricole Foundation is a long-standing partner of Convergences, a platform for mobilization and advocacy around the Sustainable Development Goals (SDGs). A member of the Microfinance Barometer Steering Committee since its inception, the Foundation reaffirmed its commitment to Convergences by becoming a financial partner of this leading industry publication. With the theme "What are the profitability levels of microfinance?", the 2018 Barometer explores the multiple facets of microfinance profitability.

This 9th edition was unveiled at the 11th Convergences World Forum held in Paris on September 3, with the participation of Philippe Guichandut, Director of Inclusive Finance Development at the Grameen Crédit Agricole Foundation, and other experts and committed stakeholders in the sector.

The 2018 Microfinance Barometer

This year, the Barometer announces an annual growth of 15.61 T/T in the credit portfolio of microfinance institutions and 5.61 T/T in the total number of borrowers. The microfinance sector contributes significantly to financial inclusion in rural areas: two-thirds of borrowers of institutions in Africa and Asia live in rural areas. Women continue to be a prime target of the sector worldwide, with coverage of 821 T/T in 2017.

Also featured in the 2018 edition of the Barometer are two articles from the Grameen Crédit Agricole Foundation. During a joint interview on the sector's profitability, Eric Campos, the Foundation's Managing Director, presents the Foundation's positive results, which finance and support more than 60 MFIs with high levels of social performance. "We operate in more than 30 countries, where our partners serve more than 3.5 million beneficiaries. Being both financially balanced and sustainable and having a social impact is entirely possible," says Eric Campos.

In an article co-written with Sébastien Duquet of Symbiotics, Philippe Guichandut highlights the new challenges of financial inclusion: "Being more efficient requires institutions to be able to adapt to the new challenges of digital technology to cope with increased competition and the emergence of new players, while adapting to the diverse needs of their clients." To meet these challenges, microfinance institutions will need new investments and enhanced technical support, two levers that will continue to be at the heart of the Grameen Crédit Agricole Foundation's work.

The results of the 2018 Microfinance Barometer reaffirm the sector's dynamism and its role in achieving the Sustainable Development Goals. The Grameen Crédit Agricole Foundation is proud to support the Barometer to highlight the actions of microfinance stakeholders and promote sustainable finance and a more inclusive economy.

Download the Barometer here

With a loan of USD 4.5 million, the Foundation strengthens the impact of the Advans Group

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The Grameen Crédit Agricole Foundation has granted a loan of US$4.5 million to the Advans Group, a leading international microfinance group established in 2005.

The Foundation, an expert in the microfinance sector

As an investor, financier, and technical assistance coordinator, the Grameen Crédit Agricole Foundation has been supporting microfinance institutions (MFIs) and social business enterprises around the world for 10 years. With nearly €65 million in microfinance assets, it now supports more than 60 MFIs in some 30 countries.

Advans, a strategic partner for the Foundation

The Advans Group operates in nine countries: Cambodia, Cameroon, Ghana, the Democratic Republic of Congo, Ivory Coast, Pakistan, Nigeria, Tunisia, and Myanmar, with over 800,000 clients. Advans' mission is to develop a network of microfinance institutions in developing countries that can facilitate access to financial services for economically vulnerable small entrepreneurs and their families.

The loan granted by the Grameen Crédit Agricole Foundation to the Advans Group demonstrates the excellent relationship between the two organizations and is at the heart of a truly strategic relationship and shared values. It will strengthen Advans' activities, particularly in the Democratic Republic of Congo, where the Group is committed to promoting entrepreneurship in both urban and rural areas of the country.

As part of the Foundation's medium-term plan, this funding aims to strengthen its presence among major players in the sector, mainly located in rural areas.

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Advans is a leading international microfinance group established in 2005. Its mission is to meet the financial service needs of small businesses and other economic agents who have inadequate, limited or no access to traditional financial services, by providing them with appropriate financial services in a sustainable and responsible manner.

For more information: //www.advansgroup.com

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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.

Study trip and 4th African Facility Forum in Ivory Coast

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Between July 8 and 12, administrators, employees of the Grameen Crédit Agricole Foundation, and partners of the "Take-off Facility for Agricultural and Rural Microfinance in Africa" program spent a week of exchanges and learning in Côte d'Ivoire. A spotlight is on this key moment in the Foundation's history.

This is the first time that the Study Tour, scheduled annually for Trustees to meet with partners funded by the Foundation, has been merged with an annual Forum of the African Facility, a technical assistance program developed in partnership with the French Development Agency (AFD) since 2013. Between July 8 and 12, partners and trustees were able to exchange ideas, strengthen their knowledge of the specificities of the Foundation's fields of activity, and explore avenues of work for the years to come. Round tables, training days, and field visits were among the key moments of this strategic week for the Foundation.

The first day of the week began in Abidjan with the opening of the 4th African Facility Forum. After a first phase that supported 16 rural microfinance institutions in Sub-Saharan Africa, the second phase of the African Facility, between 2017 and 2020, aims to finance and provide technical assistance to more than twenty institutions. The 4th Forum provided an opportunity to present the program's results and prospects and was marked by exciting discussions between administrators and 16 microfinance institutions supported under the Facility.

In the following days, the African Facility partners participated in training sessions on the challenges of digital finance and the financing of agricultural value chains. At the same time, the Directors made two field visits. The first field visit allowed the Directors to learn about the workings of a cocoa cooperative in Tiassalé benefiting from financing from Advans, a microfinance institution supported by the Foundation. The next day, they discovered the ZECI project in Akpessekro, an initiative that aims to facilitate access to electricity in rural areas through the marketing of off-grid solar kits. The Foundation will participate in the financing of the ZECI operating company[1], in close collaboration with the CA-CIB securitization team and will also monitor the project's social and environmental performance.

Before the week's closing cocktail reception, the Directors met as part of the Foundation's Board of Directors. Discussions focused on the 2019-2023 Strategic Plan, which was enriched by contributions from the African Facility's partners. The Strategic Plan will be officially presented in November during Sustainable Finance Week, organized in partnership with Crédit Agricole to celebrate the Foundation's 10th anniversary. A photo exhibition, roundtable discussions, and a grand anniversary evening will be on the agenda to celebrate and reaffirm the Foundation's and the Crédit Agricole Group's commitment to more inclusive and responsible finance.

[1] Company co-founded by EDF and Off-Grid Electric (OGE).

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