Grameen Crédit Agricole Foundation invests again in Moldova

© Philippe Lissac

The Grameen Crédit Agricole Foundation continues its investments in Moldova with the granting of a loan to the microfinance institution Microinvest. This loan, in local currency equivalent to €2 million, is the first granted to this institution, which provides microcredit and business start-up support to small entrepreneurs in many regions of the Republic of Moldova.

Many of Microinvest's loan recipients are entrepreneurs living in rural areas of this landlocked country between Ukraine and Romania. It is one of Moldova's leading microfinance institutions, headquartered in Chisinau. To date, Microinvest has over 35,000 clients, including 471,000 women and 661,000 clients located in rural areas.

With this investment, the Foundation consolidates its presence in the Eastern Europe and Central Asia region, where it already has 19 partners spread across 10 countries. This region thus represents 26% of the portfolio 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.