The Grameen Crédit Agricole Foundation and Delta sign a loan indexed to ESG criteria, an innovative scheme in Uzbekistan
A partnership dedicated to impact
The Grameen Crédit Agricole Foundation is proud to announce the signing of a new loan agreement with a new partner, Delta, a Microfinance Institution (MFI) in Uzbekistan. This collaboration is notable for its unique structure: it is a loan whose interest rate is indexed to the achievement of Environmental, Social and Governance (ESG) and impact indicators.
This innovative format reflects the alignment between the Foundation's and Delta's interests. Improving the institution's socio-environmental performance has a direct impact on the cost of funding, creating a strong incentive to commit to concrete objectives.
• The improvement of Delta's overall ESG performance.
• Improving customer service and borrower protection.
• The collection of in-depth impact data on the IMF's clientele.
A historic first in the Uzbek microfinance sector
This signing marks a significant first: it is the very first loan of this type in the microfinance sector in Uzbekistan.
The country, which recently opened its non-banking market to international investors, is booming. The Grameen Crédit Agricole Foundation is positioning itself there to support the development of responsible microfinance, following the successes seen in recent years in Central Asia.
This loan is fully aligned with the Foundation's approach of offering innovative financing products to its partners. This approach was recently shared during the training session organized by InFiNe on impact finance. More information on the training and testimonial.
Zoom on Delta
Founded in 2009, Delta is an Uzbek financial institution specializing in microcredit services, primarily for individuals and micro-enterprises without access to traditional banks. Delta began operations in the capital, Tashkent, before gradually expanding to other regions of the country. Today, the organization has a network of over 30 branches, enabling it to cover a large area, with a strong presence in rural communities.
