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Daily CSR
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Supporting ‘Microfinance Institutions’ Actions’ Through COVID-19 Crisis


Five more signatories join the pledge of key microfinance lenders to “better support the microfinance sector during the Covid-19” through “a set of principles”.

Dailycsr.com – 08 June 2020 – The “Grameen Crédit Agricole Foundation” initiated a pledge wherein the group of leaders came together as a response to the COVID-19 ongoing global economic and health crisis. The platform allowed key players from the “inclusive financial sector” to commit to a common cause, called “Key principles to protect microfinance institutions and their clients in the Covid-19 crisis”.
The above mentioned pledge took birth in consent of “all original signatories” with the objective of protecting both the clients as well as the “microfinance institutions” in order to have a continuous “access to funding in the best possible conditions” besides looking into the well-being of the employees as well as the clients.  
Through the pledge, the aim is to provide better guidance to stakeholders for supporting “microfinance institutions and vulnerable clients” in the midst of crisis-stricken landscape. Mainly, the pledge strives to pool in “available information, analyses and anticipations” then to concert implementation of “shared decisions”. The signatories have agreed to act together on policies, on providing technical assistance as well as resources to support microfinance institutions through the unique crisis.
The pledge, published in May, was originally signed by twenty organisations while now new five organisations have also joined. It now includes the following organisations, as mentioned by the “Whole Foods Market Foundations”:
“ADA, Alterfin, Azerbaijan Micro-finance Association, Bamboo Capital Partners, Cerise, CIDR Pamiga, Cordaid Investment Management, Crédit Agricole CIB India, CA Indosuez Wealth (Asset Management), Crédit Agricole S.A., European Microfinance Network, FS Impact Finance, GAWA Capital, Grameen Crédit Agricole Foundation, InFiNe.lu, Inpulse, Kiva, Luxembourg Microfinance And Development Fund, MCE Social Capital, Microfinance African Institutions Network, Microfinance Centre, Rabo Foundation, SIDI, SIMA, Social Performance Task Force and Whole Planet Foundation”.
Moreover, the pledge is open to “additional stakeholders” wishing to join the “common initiative” for coordinating efforts “to support microfinance institutions’ actions is essential to overcome this crisis”.