The Grameen Crédit Agricole Foundation consolidates its partnerships in Europe

©FGCA/Godong

During the last quarter of 2020, the Grameen Crédit Agricole Foundation continued its financing from its European partners, thus consolidating its position in a region which represents 18% of its outstanding amount.

In Bosnia and Herzegovina, the microfinance institution Mikra was thus granted a new loan of €1.2 million over a period of three years. Funded by the Foundation since 2019, Mikra's mission is to provide financial services to the poorest but economically active populations. The institution promotes equality for Bosnian women by financing and supporting entrepreneurship projects. To date, Mikra has more than 15,000 active clients, including 68% women and 58% rural clients.

In Moldova, Smart Credit was granted a new loan in the amount of €500,000 in local currency. Smart Credit is a microfinance institution whose objective is to help clients improve their living conditions, particularly socially disadvantaged small entrepreneurs. The institution currently has more than 3,000 active borrowers, including 54% women and 71% rural clients, and manages a portfolio of €3.5 million.

Finally, the Foundation granted a new loan, the second since 2018, to ADVANS Holding for an amount of 800,000 euros. ADVANS, headquartered in Luxembourg, is an international group whose mission is to build a network of microfinance institutions in developing and emerging countries. The Group offers financial and non-financial services to low-income individuals in nine countries, primarily in sub-Saharan Africa. Through its network, ADVANS serves nearly 800,000 clients and manages a portfolio of approximately 780 million euros.

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