The Grameen Crédit Agricole Foundation is strengthening its commitment in Central Asia by granting a first loan of 3 million euros to Arnur Credit, a microfinance institution based in Kazakhstan. Founded in 2001 by Orda Credit, a Kazakh MFI specializing in transfer operations and business loans, Arnur Credit is registered as a limited liability company and is supervised by the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan. Its mission is to help improve the quality of life of the economically active population of South Kazakhstan by providing microfinance services.
Arnur Credit offers loans according to the individual methodology. As of June 2022, the institution served 18,458 active borrowers (44% women and 88% in rural areas) and managed a portfolio of 52.6 million euros. It operates in the southern part of Kazakhstan (including Turkistan) through a network of 43 offices and 235 employees.
With this investment, the Foundation has, today, in the region of Eastern Europe and Central Asia, a portfolio of € 25.7 million and has 15 partner organizations supported, that is to say 24% of microfinance institutions and impact enterprises.
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