The Foundation funds a new partner in Bosnia and Herzegovina

©Philippe Lissac/GODONG

The Grameen Crédit Agricole Foundation continues to expand its activities in Bosnia and Herzegovina with the signing of a new partnership with the microfinance institution Partner Microcredit Organization (Partner), to which it has granted an initial loan of €2 million over a period of three years.

Partner is a multi-ethnic organization founded by Mercy Corps in 2000. It was the first microfinance institution to operate in post-war Bosnia and Herzegovina. Partner, one of the country's leading microfinance institutions, provides a range of business, agricultural, and housing loans through a network of approximately 30 branches. To date, the institution has over 40,000 clients, including 42% women and 87% rural clients, and manages a portfolio of nearly €70 million.

With this new partnership, the Foundation has three partners in Bosnia and Herzegovina and 16 partners in the Eastern Europe / Central Asia region, representing nearly 20% of partners and 26% of outstanding loans monitored by the Foundation at the end of October 2019.

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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.