19.7M€
Wallet
8 517
Number of beneficiaries
46.8 %
Women beneficiaries
75.3%
Rural beneficiaries
Georgia
Financial services
Funding granted
Loan of €1.4 million*
(local currency equivalent)
Foundation Partner
since 2017
*Outstanding at grant value
Context :
Georgia's economy is currently a market economy, open to foreign countries in terms of imports, exports, and investments. The primary sector remains a minority in the country's GDP. However, one of the flagships of Georgian agriculture is viticulture, an exporting country and a source of foreign currency.
The company:
Lazika Capital is a Tier 2 microfinance institution established in 2000 by Oxfam Great Britain. Its mission is to facilitate access to financial services tailored to low- and middle-income entrepreneurs. Lazika Capital offers financing using the individual lending methodology.
Impact :
Lazika Capital's lending strategy stimulates the legalization and institutionalization of entrepreneurship, particularly in rural areas, with a high concentration of informal income-generating activities and bridges that adapt to SME standards.
Solidarity Banker missions to be filled in Georgia, Kyrgyzstan and South Africa
Launched in June 2018 at the initiative of the Grameen Crédit Agricole Foundation and Crédit Agricole SA, Solidarity Bankers is a skills-based volunteer program open to all Crédit Agricole Group employees, supporting microfinance institutions and social impact businesses supported by the Foundation. Three new assignments are available in 2021 in Georgia, Kyrgyzstan, and South Africa.
“Marketing Strategy” Mission in Georgia
Lazika Capital, one of the leading microfinance institutions in Georgia. Established in 2000, Lazika provides financial services to low-income individuals, smallholder farmers, and microentrepreneurs. The organization operates through 18 branches, primarily in rural areas of Georgia (70% of clients are rural).
The Solidarity Bankers mission aims to support Lazika in developing a marketing plan for mid-2021-2022. If the health situation permits, the mission will be carried out in June or July 2021 in Georgia; otherwise, it will be postponed.
“Social and environmental performance” mission in Kyrgyzstan
Salym is a microfinance institution that provides affordable loans and deposits to support income-generating activities for low-income populations in Kyrgyzstan. The organization currently has 23 branches across Kyrgyzstan and serves more than 18,000 clients, including 521 women and 701 rural clients.
A two-week Solidarity Bankers mission is planned to support Salym in managing its social and environmental performance. If the health situation permits, the mission will take place in September or October 2021 in Kyrgyzstan; otherwise, it can be carried out online.
“AML-CFT” mission in South Africa
SEF is a microfinance institution established in 1992 that provides financial and non-financial services to poor populations in South Africa. The institution has 225,317 active borrowers (1,00% women in rural areas).
A Solidarity Bankers mission is available to support SEF in framing and training its key employees on the risks associated with money laundering and terrorist financing. The field mission will take place in South Africa for two weeks, if Covid-19 health conditions permit.
Two online missions are still available
A first “digital / IT” mission is to be filled for the benefit of Smart Credit, a microfinance institution in Moldova. The Solidarity Banker will be responsible for helping to build Smart Crédit’s digital strategy. A second “financial management” mission is available for FATEN, a microfinance institution in Palestine. The Crédit Agricole expert will support FATEN in updating its financial procedures, policies, and tools. These missions will be carried out remotely, one day per week, for 15 weeks.
How to apply?
To discover the detailed mission offers:
- Go to the CA Solidaires website “Finding your mission“
- Enter “Grameen Foundation” in the search bar. All Solidarity Leave offers will appear!
- Click on the offer of your choice, you will find all the information necessary for your application.
More information: carolina.viguet@credit-agricole-sa.fr
The Foundation continues its investments in Europe and Central Asia
In recent months, the Grameen Crédit Agricole Foundation has continued to expand its portfolio with new investments in Eastern Europe and Central Asia.
It has thus granted a new loan to the microfinance institution Monte Credit in Montenegro, for an amount of 1 million euros over a period of 3 years. Monte Credit offers its clients mainly agricultural loans and loans for commercial activities, using the individual lending methodology. To date, the institution, which manages a portfolio of 7.4 million euros, has 4,600 clients, including 55% women. 56% of its clients are located in rural areas.
The Foundation also granted two new loans totaling €2.5 million to the Georgian microfinance institution Lazika, whose mission is to facilitate access to financial services tailored to entrepreneurs. With a portfolio of €14 million, the institution now has approximately 11,000 clients, including 471,000 women and 751,000 clients in rural areas.
Finally, the Foundation granted a new three-year loan to OXUS Tajikistan for €1.2 million. OXUS Tajikistan is a microfinance institution focused on operations in rural areas, where more than 80,000 of its clients live and work. To date, the institution has 14,000 clients, including 39,000 women, and manages a portfolio worth €11.3 million.
With these new investments, the Foundation now has 16 partners spread across 7 countries in the region, representing a portfolio of outstanding loans of 16.6 million euros, or 19.81% of the total amount of outstanding loans managed by the Foundation at the end of October.