The FIR Fund (Inclusive Finance in Rural areas) was created in 2018 by the Foundation to provide entities of the Crédit Agricole Group with a dedicated fund for inclusive finance worldwide. From the start, 21* Regional Banks took part, along with Amundi and Crédit Agricole Assurances, in financing 8 rural microfinance institutions operating in 8 countries across Sub-Saharan Africa, Eastern Europe, Central Asia, and Southeast Asia.
In 2023, the FIR Fund increased its investments to finance micro-entrepreneurs. Seven new loans were granted to MFIs, enabling the fund to reach a strong asset deployment rate of 80%. As of December 31, 2023, the total outstanding loan portfolio stood at €8,350,000, representing 80% of the fund’s deployed assets. These microfinance institutions in turn finance micro-entrepreneurs, 67% of whom are women, 75% located in rural areas, and 37% are farmers.
By the end of December 2023, the FIR Fund was supporting 8 microfinance institutions: Mikra in Bosnia and Herzegovina, Lazika in Georgia, Asian Credit Fund in Kazakhstan, Oxus in Kyrgyzstan, Prima Finantare in Moldova, Furuz in Tajikistan, AMZ in Zambia, and Pahal in India.
*Alpes Provence, Alsace-Vosges, Brie Picardie, Centre-est, Centre-France, Centre Loire, Centre-Ouest, Champagne-Bourgogne, Charente-Périgord, Finistère, Franche-Comté, Ille-et-Vilaine, Languedoc, Loire-Haute Loire, Martinique-Guyane, Normandie-Seine, Provence Côte-d’Azur, Réunion, Savoie, Sud Rhône Alpes et Touraine Poitou
