Newsletter #38: The resilience of microfinance in the face of the Covid-19 crisis

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The Grameen Crédit Agricole Foundation has published its newsletter #38, highlighting the impact of Covid-19 and the actions of the Foundation and the organizations it supports to address it. 2020 marked the world with an unprecedented crisis, but what will also remain at the end of this historic year is the resilience of the inclusive finance sector.

Signs of this resilience are presented in the results of the 5th survey conducted since the start of the pandemic by the Foundation, ADA, and Inpulse among the microfinance institutions it supports to understand the impact of the crisis on their business and provide them with the most appropriate responses. A vast majority of the supported institutions anticipate growth in their business in 2021, in terms of portfolio volume and number of clients.

The Foundation has also launched an International Coalition to work in concert with other stakeholders in the sector and better support the organizations it supports, both financially and through technical assistance missions, during this time of crisis. In this issue of the Newsletter, you will discover the testimony of OXUS Kyrgyzstan, a microfinance institution that benefited from additional support from the Foundation as part of the Coalition.

We also share the testimony of Daniel Hoarau, IT Manager at Crédit Agricole de La Réunion, who went to support a microfinance institution in Bosnia and Herzegovina as part of a Solidarity Bankers mission, a skills volunteer program open to all Crédit Agricole Group employees in support of organizations funded by the Foundation.

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