Foundation grants new loan to Kyrgyzstan
The Grameen Crédit Agricole Foundation is continuing its financing in Central Asia with a new loan granted to a microfinance institution located in Kyrgyzstan, where it currently has three partners.
The Foundation has thus granted a new loan to the microfinance institution Salym Finance for an amount in local currency equivalent to 860,000 euros. Salym Finance is a microfinance institution whose objective is to support, develop, and improve the standard of living of populations by creating favorable financial conditions for economic development. The new loan granted by the Foundation will allow Salym to strengthen its impact by primarily supporting people with limited incomes who come from rural areas or urban peripheries. The institution offers various products to its clients: housing loans, consumer credit, agricultural credit, and business loans.
To date, Salym Finance has more than 17,000 clients, including 53% women and 71% clients living in rural areas.
It is worth noting that this financing was put in place during the first quarter of 2022, shortly before the start of the Ukrainian conflict.
