The Foundation's latest funding in Europe and Central Asia

© Didier Gentilhomme

In the second half of 2021, the Grameen Crédit Agricole Foundation granted new financing in Europe and Central Asia, including one with Furuz, a new partner in Tajikistan. As of the end of December 2021, the Grameen Crédit Agricole Foundation had 81 partners in 37 countries and manages a portfolio of €82 million, including €461 million in fragile countries.

In Moldova, the Foundation granted a new loan to the microfinance institution Smart Credit for an amount equivalent to 580,000 euros. Smart Credit is a microfinance institution created in 2010 to help clients improve their living conditions, particularly among socially disadvantaged small entrepreneurs. The institution offers loans using the individual methodology. To date, Smart Credit has 3,253 clients, including 54% women and 69% clients in rural areas.

The Foundation also granted two new loans to Lazika in Georgia for a total amount equivalent to 1.4 million euros. Lazika is a microfinance institution established in 2000 by Oxfam Great Britain. Its mission is to facilitate access to financial services tailored to the needs of low- and middle-income entrepreneurs. Currently, Lazika has nearly 15,000 clients, of which 49% are women and 69% live in rural areas.

In Kazakhstan, the Foundation also granted new funding to Asian Credit Fund (ACF) for an amount in local currency equivalent to 1 million euros. ACF is a microfinance institution established in 1997 whose mission is to provide financial and development products and services to the poorest households in Kazakhstan. ACF's financial services are designed to promote rural household development, small business growth, and home ownership. The institution has nearly 27,000 clients living in 93% rural areas, 70% of whom are women.

In Tajikistan, the Foundation has granted initial funding to Furuz, a new partner, for an amount in local currency equivalent to 500,000 euros. Furuz is a microfinance institution that began its activities in 1999 as part of the microenterprise development program of the NGO Millennium Relief and Development Services. The institution offers financial services to small businesses. Furuz has more than 5,000 clients, including 30% women and 81% clients in rural areas.

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