The Chairman of Credit Agricole SA and Chairman of Grameen-Credit Agricole Microfinance Foundation, René Carron, arrived today in Dhaka together with a 19- member delegation from France for the third board meeting of Grameen-Credit Agricole Microfinance Foundation which will take place on September 9 to be hosted by Grameen Trust. Mr. Carron will make a courtesy call on Finance Minister Mr. AMA Muhith on September 9, 2009.
Credit Agricole, leading French banking group, joined forces with Grameen in 2007 to support micro finance and social businesses around the world. The creation of the Grameen Credit Agricole Microfinance Foundation came
after Credit Agricole's CEO, Georges Pauget, travelled to Bangladesh in July 2007 to meet with Nobel Laureate Professor Muhammad Yunus and visit Grameen's microcredit and social business operations in the country.
The French banking group has endowed 50m ($73m) to the foundation which is working with Grameen to provide financial guarantees and expertise to help launch microfinance institutions around the world. They will endow another 100 million Euro for promotion of microfinance in Africa and Latin America. The foundation offers financial guarantees, equity investments, training and technological expertise to micro lenders and social business.
The French delegation includes Mr Jean-Luc Perron , the Managing Director of the Foundation as well as five board members of the Foundation. HRH Maria Teresa Grand-Duchess of Luxemburg is also a board member and hosted the very first board meeting of the Foundation at the Grand Ducal Palace in Luxembourg. Grameen Trust is hosting the third board meeting. The delegation is expected to leave on 11 September.