Eric Campos, Grameen Crédit Agricole Foundation
In 2020, the Foundation supported 80 microfinance institutions and social enterprises in 39 countries around the world. With the Covid-19 pandemic, the Foundation established a permanent dialogue with all the partner organisations and adapted its financial and technical support. The Foundation also coordinated with other key players of the inclusive finance sectors to develop commun solutions and better protect the microfinance institutions and their clients. Spotlight on an interview to Eric Campos, Managing Director of the Foundation, and some key figures of the activity in 2020.
The Covid-19 crisis has affected the microfinance sector around the world
Eric Campos: 2020 has been a very challenging year for the partners of the Grameen Crédit Agricole Foundation, microfinance institutions and social environmental impact enterprises. Very trying because the final beneficiaries, who are very dependent on sectors such as trade, agriculture and craft, had to deal with lockdown measures and therefore had the greatest difficulty in developing their income generating activities.
The Foundation has adapted itself to better support entrepreneurs in the field
EC: The Foundation’s teams focused on all actions that could allow these institutions, these enterprises to save time and adapt to the economic effects of this crisis. At the international level, we coordinated an agreement with international funders to avoid a liquidity crisis in the microfinance sector. At the Foundation level, we have granted a number of rollovers, we have supported institutions and enterprises by organising technical assistance missions to enable them to improve on risk management and on treasury management. We have been present throughout this year, alongside our long-standing partner institutions of the Foundation.
What prospects for 2021?
EC: In 2021, we are still in a crisis context. We are seeing some small signs of economic recovery in about a third of the countries in which the Foundation operates. In 2021, the Foundation will strengthen its technical assistance programme. We will continue to finance our partners, to support them, and we are cautious but confident in the economic recovery that we are already starting to see. Our commitment: help our partners get through this global crisis.