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The Grameen Crédit Agricole Foundation and Crédit Agricole Egypt are teaming up to fight poverty in Egypt

The Grameen Crédit Agricole Foundation and Crédit Agricole Egypt have signed a partnership agreement to finance Egyptian Microfinance Institutions (MFIs). This partnership will enable CA Egypt and the Grameen Crédit Agricole Foundation to take part in the development of the country by contributing to the economic growth of a segment of the population that is now excluded from the traditional banking sector. The Egyptian Financial Supervisory Authority (EFSA) and the MFIs have welcomed this unprecedented initiative involving a local bank and a microfinance specialist. Initial funding proposals are expected to be submitted in May.