Grameen Crédit Agricole Foundation invests again in Central Asia

© Didier Gentilhomme

During the first six months of the year, the Grameen Crédit Agricole Foundation made new investments in Central Asia. It granted a new USD loan equivalent to €895,000 to the Tajik microfinance institution Humo. Humo is a microcredit and deposit institution whose main activity is to provide quality and affordable financial services to rural populations. To date, this institution has nearly 57,000 clients, including 421,000 women and 80,510,000 clients in rural areas.

The Foundation also granted a new loan to OXUS Kyrgyzstan for an amount equivalent to €708,000 in local currency. OXUS Kyrgyzstan is a microfinance institution that offers individual financing and group loans. OXUS clients primarily work in the agriculture and livestock sectors. The institution currently has 7,600 clients, including 551,000 women and 57,210,000 clients in rural areas.

The Grameen Crédit Agricole Foundation currently supports 20 microfinance institutions in Eastern Europe and Central Asia with a total commitment of €20.1 million, representing €211 million of the Foundation's commitments as of the end of August 2019.

For more information: Supported organizations

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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator, and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.