The Grameen Crédit Agricole Foundation will develop sustainable partnerships with microfinance institutions to operate in developing and emerging countries.
The Foundation is serving the cause that Professor Muhammad Yunus has been defending for over 30 years.
What is an MFI?
A microfinance institution (MFI) is a local entity that provides small-scale financial services (credit, savings, insurance) to people with no access to the traditional banking system, by giving them the resources they need to develop a business.
What is Grameen Trust ?
Grameen trust is the sister organization of Grameen Bank, the benchmark in microfinance founded in 1983 by Muhammad Yunus,focusing on worldwide replication of the Grameen Bank model. It offers people who are excluded from the banking system financing solutions to grow their business. Through microloans, savings and insurance, Grameen Bank makes a significant contribution to fighting poverty by giving the poorest people a chance to become self-sufficient.
Crédit Agricole S.A. named 2007 bank of the year for its socially and environmentally responsible policies. Crédit Agricole recently won recognition for its commitment to social and environmental responsibility (SER) from Innovest and The Banker magazine.
Common convictions
Solidarity, trust and responsibility: Grameen and Crédit Agricole draw their know-how from common values.Like the cooperative MFIs, the Crédit Agricole Mutuel Local Banks created starting in 1884 were grass-roots entities. Their purpose was to alleviate the difficulties encountered by farmers in obtaining financing, who at the time were dependent on usurious lenders and landowners.Crédit Agricole has always combined mutualist values with a stringent, effective approach to ensure that its local banks are financially independent and profitable.
The Grameen Crédit Agricole Foundation is combining the expertise of the pioneer in microfinance with that of France's largest banking and insurance group, making it a leading operator in the fight against poverty and social exclusion.
About the foundation : http://www.grameen-credit-agricole.org
About Muhammad Yunus, PhD : http://muhammadyunus.org