Foundation grants new loan to Mikra in Bosnia and Herzegovina

The Grameen Crédit Agricole Foundation continued its investments in Eastern Europe and Central Asia and has just granted a new local currency loan equivalent to €1.2 million to the Bosnian microfinance institution Mikra, over a three-year period. This is the second loan granted to the institution, following the €1 million loan granted in 2018.

Mikra is a Tier 2 microfinance institution that began operations in 1993. Its mission is to responsibly provide access to financial services to the poorest but economically active population, primarily women (70,213 out of 13,400 clients). The institution provides the poorest working populations with access to affordable, high-quality financial and support services to reduce poverty and encourage entrepreneurship. The institution promotes equality and freedom for Bosnian women, which are necessary prerequisites for their entrepreneurial success and social empowerment.

With this loan, the Foundation now has an outstanding amount of 24 million euros in the Eastern Europe and Central Asia region, representing 25% of the outstanding amount monitored by the Foundation.

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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 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 40 countries.

For more information on the organizations supported by the Foundation,click here.