The Foundation continues its activities in Eastern Europe
The Grameen Crédit Agricole Foundation has granted three new loans to its partners in Eastern Europe. The Foundation's portfolio amounts to €14.2 million in this region, where it operates in six countries with nine partners.
In Montenegro, the Foundation granted a new loan to the microfinance institution Monte Credit for an amount of 600,000 euros. Founded in 2005, Monte Crédit is a microfinance institution whose mission is to empower rural families to create income-generating activities and jobs, unlocking economic potential so that communities prosper. The institution currently has more than 4,000 clients, including 54% women and 51% rural clients.
In Bosnia and Herzegovina, the Foundation granted a new loan to the microfinance institution Mikra for €1.9 million. Mikra is a microfinance institution that began operations in 1993. Its mission is to provide access to financial services responsibly to the country's poorest but economically active population, primarily women. The institution provides access to affordable, high-quality financial and support services to reduce poverty and encourage entrepreneurship. The institution serves nearly 15,000 clients, including 68% women and 58% clients in rural areas.
Finally, in Moldova, the microfinance institution Microinvest has been granted a new loan of €1.2 million. Microinvest, a partner of the Foundation since 2020, provides microcredit and business start-up assistance to small entrepreneurs in many regions of the country. 70,% of the institution's portfolio corresponds to loans granted to private entrepreneurs living in rural areas of this landlocked country between Ukraine and Romania. To date, Microinvest has approximately 37,000 clients, including 41% women.
