In the first quarter, the Foundation made three new investments in Asia

© Didier Gentilhomme

During the first half of 2019, the Grameen Crédit Agricole Foundation made three new investments in Asia, including a guarantee in India in partnership with CA-CIB India.

In Cambodia, Phare Performing Social Enterprise (PPSE) was granted a loan equivalent to €332,000. This partner, in which the Foundation has held a 15.51% stake since 2013, is a social enterprise that creates, produces, and distributes live performances and employs young artists from disadvantaged backgrounds.

In Myanmar, the Foundation also provided a new €1.8 million loan to Vision Fund Myanmar, a microfinance institution that lends small amounts of money to individuals who lack a measurable credit history, assets to secure loans, or access to traditional sources of financing. The institution currently has 183,000 active clients, including over 851,000 women and nearly 521,000 rural clients.

Finally, in India, the Foundation, in partnership with Crédit Agricole CIB India, has established a guarantee in local currency equivalent to €5.5 million on behalf of Fusion Microfinance Private Ltd. Founded in 1994 in northern India, the institution offers financial products and services to low-income individuals. To date, it has 1.4 million clients, exclusively women, located in rural areas.