29 August 2022

The Grameen Crédit Agricole Foundation granted three new loans to its partners in Eastern Europe. The Foundation’s portfolio amounts to 14.2 million euros in this region where it is present in six countries with nine partners.

In Montenegro, the Foundation granted a new loan to the microfinance institution Monte Credit for an amount of €600,000. Founded in 2005, Monte Credit is a microfinance institution whose mission is to empower rural families to create income-generating activities and jobs that unlock economic potential for communities to thrive. The institution currently has more than 4,000 clients, 54% of whom are women and 51% of whom are rural clients.

In Bosnia and Herzegovina, the Foundation granted a new loan to the microfinance institution Mikra for an amount of €1.9 million. Mikra is a microfinance institution that began operations in 1993. Its mission is to provide access to financial services in a responsible manner to the poorest but economically active population of the country, mainly women. The institution offers access to affordable and quality financial and support services in order to reduce poverty and encourage entrepreneurship. The institution serves nearly 15,000 clients, 68% of whom are women and 58% of of whom clients in rural areas.

Finally, in Moldova, the microfinance institution Microinvest was granted a new loan for an amount of €1.2 million. Microinvest, a partner of the Foundation since 2020, provides microloans and business start-up assistance to small entrepreneurs in many regions of the country. 70% of the institution’s portfolio corresponds to loans granted to private entrepreneurs living in the rural areas of this country landlocked between Ukraine and Romania. To date, Microinvest has around 37,000 clients, 41% of whom are women.

More information about our partners here