The Palestinian agricultural sector represents one of the most important sources of income for the Palestinian economy, and in 2006 employed around 15.7% of the workforce in Palestine.
The Institution:
In 1995, the international NGO Save The Children founded the microfinance institution FATEN, with the motto “Credit and Development for Palestine”. This non-profit institution is the largest microfinance institution in the region and is active in remote areas.
Impact:
FATEN offers a wide range of sustainable financial services for low-income and economically active small businesses, microentrepreneurs and individuals, especially women. Through advanced human resources and technical infrastructure, it contributes to the empowerment of families and community development in Palestine.
The Grameen Credit Agricole Foundation invests in Palestine
In November, the Grameen Crédit Agricole Foundation again signed a partnership in Palestine with the microfinance institution FATEN, for a loan of an equivalent amount in local currency of one million euros. The Foundation now has two partners in Palestine where it has been present since 2012.
FATEN, an NGO that provides financial products and services to small entrepreneurs in the country, as well as farmers who own isolated land near the Israeli separation wall. Its product offering includes group loans, individual loans, Islamic loans, and housing and start-up loans.
FATEN is the largest microfinance institution in the region and is active in remote areas. The current stability has allowed the institution to develop while continuing to serve a majority of women, with a strong presence in rural areas and refugee camps.
Created in 2008, under the joint impetus of the directors of Crédit Agricole S.A. and Professor Yunus, winner of the 2006 Nobel Peace Prize and founder of the Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-business operator that contributes to the fight against poverty through financial inclusion and entrepreneurship with a social impact. As an investor, lender, technical assistance coordinator and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.
Solidarity Bankers : two online missions are to be filled in favor of FATEN and OXUS Kyrgyzstan
Solidarity Bankers is a skills volunteering program launched by the Foundation and Crédit Agricole S.A. in 2018. The program has a twofold objective: on the one hand, support microfinance institutions and social impact enterprises financed by the Foundation with technical assistance, and on the other hand, enhance the skills of Group employees who want to invest themselves in projects with high social impact.
Missions can take place during the Solidarity Banker’s working time and/or during holidays (volunteering).
Currently two online missions are available. The Solidarity Banker will work on this mission at the rate of one day per week during 15 weeks. However, these duration modalities can be modified according to the preferences of the Solidarity Banker, the beneficiary organization and the employer.
“Financial Management” mission for FATEN (Palestine)
FATEN is a microfinance institution created in 1995 by the NGO Save The Children. Its mission is to serve the financial services needs of low and middle-income Palestinian entrepreneurs and individuals. The Grameen Crédit Agricole Foundation has been supporting FATEN since 2014 through various senior loans but also through technical assistance in the framework of Solidarity Bankers by CA.
The selected Crédit Agricole expert will support FATEN in updating financial procedures, policies and tools. The Solidarity Banker must know international financial reporting standards and in particular, the latest changes to IFRS 16 and IFRS 9. Fluency in English is mandatory and a good knowledge of Arabic is a plus.
OXUS Kyrgyzstan (OKG) is a microfinance institution that provides financial services to the working poor and under-banked in Kyrgyzstan. The institution serves 8,000 active borrowers and manages a portfolio of EUR 6.4 million.
The selected Crédit Agricole expert will support OKG in the evaluation of its digitalization processes and in the construction of a new digital strategy. The Solidarity Banker must have significant experience in IT project management. Fluency in English is mandatory and speaking Russian is an asset.
