Foundation's 2011 results
In 2011, the Foundation developed its interventions and reinforced its original position in the world of microfinance and social business.
On 31 December 2011, after three fiscal years, Grameen Crédit Agricole Microfinance Foundation has supported 28 microfinance and social business institutions plus a funds for covering exchange risk in 15 countries, for a total of 24.4 million euros.
In 2011, the Foundation approved 18 investment projects, including 9 projects for refinancing to new microfinance institutions and in one new Social Business.The Foundation extended its activities to 3 new countries (Madagascar, Sri Lanka and Tadjikistan). For the first time the Foundation approved an equity investment in a Microfinance Institution in Cambodia. In addition, the Foundation provided technical assistance missions that benefited 6 partners.
At the end of 2011, the Foundation’s MFI partners consisted of 1,223,000 borrowers, of whom 91% are women and 74% live in rural areas (a high increase compare to end of 2010 +68%). The geographic distribution of these borrowers reflects the Foundation’s priorities: 38% in Sub-Saharan Africa, 45% in Southeast Asia, 5% in Eastern Europe and Central Asia and 12% in the Middle East and North Africa.