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France : microcredit supported by banks

Some years ago, financial institutions were reluctant to commit themselves in microcredit. It’s no more the case, thanks to the pioneering association ADIE

di Zesst

After the recent partnership with BNP, one of the leading French banks, ADIE ? the main non profit microcredit organisation ? signed an innovative agreement with the group ?Banque populaire ” in December 2006. The President and founder of this association, Maria Nowak, now very much involved at the European level, has quite realized her dream : pushing financial institutions, included the European Bank for Investment, to finance the cost of accompaniment techniques provided to micro entrepreneurs.

The Banque populaire, a big French banking network stemming from the social economy, will make available volunteeering staff to ADIE in order to alleviate its running costs, but also to spur a new culture of partnership between different actors on entrepreneurship.

As stated by the January press communniqué, ?this essential contribution will allow the reinforcing of synergies … around two common values : solidarity and proximity ?.

www.adie.org

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