By Jean-Michel Severino, CEO of the Agence Française de Développement (AFD)

These few lines came to my mind after one of our Board of Directors’ meetings devoted, among other things, to a new participation in an important microfinance institution in Morocco - a country famous for its involvement in the sector. I have, for a long time, been an avid supporter of microfinance. And I am particularly proud of the important increase in the amount of investments made in this sector by my organization, AFD, over the past 20 years: through 60 projects and nearly 300 million euros invested, we have helped more than 1.5 million people make their way out of poverty. We now want to go further, encouraged in this by GCAP’s very positive evaluation of our involvement. I see microfinance as a powerful tool against exclusion; it allows people who have been traditionally excluded from the financial systems to have access to credit. Great tribute must be paid to the pioneers of this revolutionary approach. (...)