The Foundation continues its investments in Kosovo

© Philippe Lissac

The Grameen Crédit Agricole Foundation has just granted a new loan in local currency equivalent to 1.5 million euros to the Kosovar microfinance institution Kreditimi Rural i Kosoves (KRK), which it has supported since 2009.

KRK is a project initiated in 2000 by ADIE International under the name Rural Finance Program of Kosovo (RFPK). The project transformed into a microfinance institution shortly thereafter, when the new regulations governing financial institutions came into effect in Kosovo. KRK's mission is to provide sustainable access to financial services in rural areas of Kosovo, with a priority for the agricultural sector. To date, the institution has nearly 17,000 clients, including 161,000 women and 841,000 rural clients.

With this investment, the Foundation now has an outstanding portfolio of €22 million in the Eastern Europe & Central Asia region, representing 23% of its portfolio, and has 18 supported partner organizations, representing 21% of the microfinance institutions and impact businesses it finances.

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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 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.