The Grameen Crédit Agricole Foundation, in partnership with Crédit Agricole Egypt, has just granted, for the first time, financing to the microfinance institution Tasaheel, in the form of a guarantee equivalent to 3 million euros allowing the institution to access a loan granted by CA Egypt.

Tasaheel for Microfinance Foundation (Tasaheel) is a Tier 2 microfinance institution established in 2015 as part of GB Auto's corporate responsibility program. Its mission is to effectively develop small businesses through the design and provision of loans to help improve the socioeconomic status of low-income families. Tasaheel aims to help low-income individuals generate higher returns to improve their standard of living, which in turn supports overall community development and economic growth. To date, the institution has nearly 400,000 clients, including 83% women. Less than 1% of its clientele are in rural areas.

With this new funding, the Foundation consolidates its presence in Egypt and strengthens its partnership with Crédit Agricole Egypt within the framework of the cooperation schemes established with the International Proximity Bank (BPI) of the Crédit Agricole group.

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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.