Georgia
Financing granted
Loan of €3M *
(equivalent in local currency)
Foundation partner
since 2017
*Outstanding amount at grant value
Partner website
Context:
Georgia today has a market economy, open to foreign countries in terms of imports, exports and investments. The primary sector remains a minority industry in the country’s GDP. However, one of the flagships of Georgian agriculture is winemaking, which is an exporting industry and source of foreign exchange.
The Institution:
Lazika Capital is a Tier 2 microfinance institution created in 2000 by Oxfam Great Britain to facilitate the access for low and middle income entrepreneurs to financial services adapted to their needs. Lazika Capital offers financing according to the individual loan methodology.
Impact:
Lazika Capital’s lending strategy stimulates the legalization and institutionalization of entrepreneurship, particularly in rural areas, with a high concentration of informal income-generating activities and bridge arrangements that are adapted to SME standards.
News
Solidarity Bankers missions to be filled in Georgia, Kyrgyzstan and South Africa
Launched in June 2018 at the initiative of the Grameen Crédit Agricole Foundation and Crédit Agricole SA, Solidarity Bankers is a skills volunteering programme aimed at all Crédit Agricole Group employees in favour of microfinance institutions and social impact businesses supported by the Foundation. Three new missions are to be filled in 2021 in Georgia, Kyrgyzstan and South Africa.
“Marketing Strategy” mission in Georgia
Lazika Capital, one of the leading microfinance institutions in Georgia. Established in 2000, Lazika provides financial services to low-income people, smallholder farmers and microentrepreneurs. The organisation operates through 18 branches, mainly in rural areas of Georgia (70% of active borrowers are rural).
The Solidarity Bankers mission aims to support Lazika in the development of a marketing plan for mid-2021-2022. If the health context allows it, the mission will be carried out in June or July 2021 in Georgia. If not, the mission will be postponed.
“Social and environmental performance” mission in Kyrgyzstan
Salym is a microfinance institution that provides affordable loans and deposits to support income-generating activities of low-income populations in Kyrgyzstan. The organisation currently has 23 branches across Kyrgyzstan and serves over 18,000 active borrowers, 52% of whom are women and 70% of whom live in rural areas.
A two-week Solidarity Bankers mission is planned to support Salym in managing its social and environmental performance. If the health context allows it, the mission will be carried out in September or October 2021 in Kyrgyzstan. If not, the mission can be carried out online.
“AML-CFT” mission in South Africa
SEF is a microfinance institution established in 1992 that provides financial and non-financial services to poor people in South Africa. The institution has 225,317 active borrowers (100% of women in living rural areas).
A Solidarity Bankers mission is to be filled to support SEF in the framing and training of its key employees on the risks associated with money laundering and the financing of terrorism. The field mission will take place in South Africa over a two-weeks period, if the sanitary conditions linked to Covid-19 allow it.
Two online missions are still available
A first “digital / IT” mission is available to support Smart Credit, a microfinance institution funded by the Grameen Crédit Agricole Foundation in Moldova. The mission of the Solidarity Banker will be to help build the digital strategy of Smart Credit. A second “financial management” mission is to be filled in favour of FATEN, a microfinance institution located in Palestine. The Crédit Agricole expert will support FATEN in updating financial procedures, policies and tools. These missions will be carried out remotely at the rate of one day per week, for 15 weeks.
How to apply?
To access the detailed offers of the missions:
- Go to the CA Solidaires website “Find a project“
- Enter in the search bar: “Grameen Foundation”. All the Solidarity Bankers’ offers will appear!
- Click on the offer of your choice. You will find all the information you need to apply.
Further information: carolina.viguet@credit-agricole-sa.fr
The Foundation pursues its investments in Europe and Central Asia
In recent months, the Grameen Crédit Agricole Foundation has continued to develop its portfolio with new investments in Eastern Europe and Central Asia.
It has thus granted a new loan to the microfinance institution Monte Credit in Montenegro, for a total amount of € 1 million over a three-year period. Monte Credit offers its clients primarily agricultural and business loans, according to the individual loan methodology. To date, the institution, which manages a portfolio of € 7.4 million, has around 4,600 clients, 55% of whom are women. 56% of its clients live in rural areas.
The Foundation has also granted two new loans totaling € 2.5 million to the Georgian microfinance institution Lazika, whose mission is to facilitate access to financial services tailored to entrepreneurs. With a € 14 million portfolio, the institution now has around 11,000 clients, 47% of whom are women and 75% of whom live in rural areas.
Finally, the Foundation granted a new loan over a three-year period to OXUS Tajikistan for an amount of €1.2 million. OXUS Tajikistan is a microfinance institution that focuses on rural areas where over 80% of its clients live and work. To date, the institution has around 14,000 clients, 39% of whom are women, and manages a portfolio of € 11.3 million.
With these new investments, the Foundation now has 16 partners in 7 countries in the area, which represents an outstanding portfolio of € 16.6 million, that is 19.8% of the total outstandings portfolio managed by the Foundation as of end of October.
Further information on the Foundation partners …
In recent months, the Grameen Crédit Agricole Foundation has continued to develop its portfolio with new investments in Eastern Europe and Central Asia.
It has thus granted a new loan to the microfinance institution Monte Credit in Montenegro, for a total amount of € 1 million over a three-year period. Monte Credit offers its clients primarily agricultural and business loans, according to the individual loan methodology. To date, the institution, which manages a portfolio of € 7.4 million, has around 4,600 clients, 55% of whom are women. 56% of its clients live in rural areas.
The Foundation has also granted two new loans totaling € 2.5 million to the Georgian microfinance institution Lazika, whose mission is to facilitate access to financial services tailored to entrepreneurs. With a € 14 million portfolio, the institution now has around 11,000 clients, 47% of whom are women and 75% of whom live in rural areas.
Finally, the Foundation granted a new loan over a three-year period to OXUS Tajikistan for an amount of €1.2 million. OXUS Tajikistan is a microfinance institution that focuses on rural areas where over 80% of its clients live and work. To date, the institution has around 14,000 clients, 39% of whom are women, and manages a portfolio of € 11.3 million.
With these new investments, the Foundation now has 16 partners in 7 countries in the area, which represents an outstanding portfolio of € 16.6 million, that is 19.8% of the total outstandings portfolio managed by the Foundation as of end of October.