The Foundation makes its first investment in Montenegro

The Grameen Crédit Agricole Foundation has made its first investment in Montenegro by granting a €500,000 loan over a three-year period to the microfinance institution Monte Credit, which belongs to Agroinvest Holding, a subsidiary of Vision Fund International.

Monte Credit Montenegro's target clients are poor households, those engaged in small business activities, microenterprises in the areas of trade, agricultural production/processing/sales, and small and medium-sized tourism-oriented businesses. Monte Credit primarily offers its clients agricultural loans and loans for business activities, using the individual lending methodology.

With this new loan, the Foundation now has 14 partners in the Eastern Europe and Central Asia region, representing 25% of its microfinance partners, for a total amount of commitments at the end of 2017 of 16 million euros in the region.

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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.