The Grameen Crédit Agricole Foundation continued to invest in Eastern Europe and Central Asia and has just granted a new loan in local currency equivalent to € 1.2 million to the Bosnian microfinance institution Mikra, over a of three-year period. This is the second loan granted to the institution following the 1 million euro loan in 2018.
Mikra is a Tier 2 microfinance institution founded by Catholic Relief Services (CRS) that started operations in 1993. Its mission is to provide responsible access to financial services to the poorest but economically active population, mainly women (70.2% of its 13,400 clients). The institution offers the poorest gainfully employed population access to affordable and quality financial and support services in order to reduce poverty and encourage entrepreneurship. The institution promotes the equality and freedom of Bosnian women, which are necessary preconditions for the success of their businesses and their social emancipation.
With this loan, the Foundation now has an outstanding amount of € 24 million euros in the Eastern Europe and Central Asia region, which represents 25% of the outstanding amount managed by the Foundation.
Created in 2008, under the joint leadership of Crédit Agricole SA and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole Foundation is a cross-business actor which contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. 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.