The Grameen Crédit Agricole Foundation was created in 2008 and aims to provide financial and technical support to microfinance institutions, social businesses and high-impact projects in developing countries. It operates in 40 countries and Sub-Saharan Africa is one of the focus regions for its action. At 30 June 2020, the Foundation’s financial commitments with 71 microfinance institutions, 11 social businesses and a high-impact project totaled EUR 92m. The Foundation has been a client of AFD Group for 10 years.
Proparco has allocated a EUR 5m senior debt credit line to allow it to meet the additional financing needs of its existing clients during the crisis caused by the Covid-19 pandemic.
The project will support 7,300 jobs and access to microcredit for 7,250 beneficiaries.
The project also qualifies for the 2X Challenge (multilateral initiative to support women’s economic empowerment) as 85% of the clients of the institutions supported by the GCAMF foundation are women.
This information is given at the time of signature, without prejudice to any developments in the operation/project