Organisation

The Grameen Crédit Agricole Foundation is engaged in a financial undertaking but its goal is not to make profits. By virtue of its legal status, it is entirely independent of the Crédit Agricole Group's business interests.

A dedicated, independent entity
The Grameen Crédit Agricole Foundation is a separate entity and is managed in such a way as to guarantee its independence. Its goal is to promote the growth of microfinance institutions and help them achieve professional status.
The microfinance institutions with which the Foundation will forge partnerships will be selected based on financial management and social performance criteria and certain ethical considerations.

Balanced governance and dedicated experts
The Foundation is managed by personalities who are known for their experience in economic development and microfinance.

Board of directors
This is the Foundation's main governing body. It will consist of ten to thirteen directors from the Crédit Agricole Group and Grameen Trust, including Nobel Peace Prize winner Muhammad Yunus.
Financial and technical team
The team will be headed by Jean-Luc Perron and will comprise some fifteen people by the end of 2008. Its main duties and responsibilities will be:
- to identify MFIs that are eligible for the Foundation's support
- to assess their financial condition and to define ways of supporting them
- to propose solutions that are suited to the situation in each country.

The Foundation will serve as a platform for technical assistance, training and exchange of best practices and will network the MFIs so as to facilitate their access to a variety of services and advice.

Initial grant to be augmented
The Grameen Crédit Agricole Foundation has two sources of funding:

An initial grant of €50 million
This grant is the "core funding" of the organisation and will be reinvested in supporting microfinance institutions (MFIs) and the actions of social business enterprises.
Funding from institutional investors and large corporations
In a second stage, the Foundation will dedicate the resources it needs to raise funds from institutional partners and major corporations. In 2009, an investment fund dedicated to microfinance and controlled by the Foundation will be created. Ideam, the Crédit Agricole Asset Management subsidiary specialising in socially responsible investment (SRI), will offer this fund to European investors.

An independent foundation
Based in Paris, the Grameen Crédit Agricole Foundation will be governed by the laws of Luxembourg. This status is most appropriate for the original foundation/fund combination.
The interests of the Crédit Agricole Group will in no way interfere in the Foundation's management.

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