The Grameen Crédit Agricole Foundation pursues its funding in Central Asia with a new loan granted to a microfinance institution located in Kyrgyzstan where the Foundation has three partners.
The Foundation thus granted a new loan to the microfinance institution Salym Finance for an amount in local currency equivalent to €860,000. Salym Finance is a microfinance institution whose objective is to support, develop and improve the living conditions of the population by creating favourable financial conditions for economic development. The new loan granted by the Foundation will enable Salym to strengthen its impact by mainly supporting people with limited incomes who come from rural areas or urban peripheries. The institution offers different products to its clients: housing loans, consumer loans, agricultural loans and business loans.
To this day, Salym Finance has over 17 000 clients, 53% of whom are women and 71% of whom live in rural areas.
It should be noted that this funding was finalised during the first quarter of 2022, shortly before the start of the Ukrainian conflict.