Increased activity in Central Europe.

 

In the second half of 2023, the Foundation strengthened its position in Central Europe with the granting of a new loan to a partner in Georgia.

In Georgia, the Foundation granted a new loan to Lazika in local currency equivalent to 1,030,000 euros. A partner since 2017, this microfinance institution seeks to "stimulate the legalization and institutionalization of entrepreneurship, particularly in rural areas, with a high concentration of informal income-generating activities and bridges that segment to SME standards"... It works mainly in rural areas and has 48% women among its 22,000 clients.

With this new loan, the Foundation strengthens its presence in Central Asia, which represents 18,% of the total outstanding amount monitored by the Foundation at the end of July 2023.

To learn more about our partners, Click here.