The Grameen Crédit Agricole Foundation granted a new loan equivalent to € 1.9 million to the Cambodian microfinance institution LOLC Cambodia, over a three-year period. This loan is the fifth granted by the Foundation to this institution (formerly TPC), a partner since 2010.
With this new loan, LOLC Cambodia, whose mission is to provide entrepreneurs and families at the base of the socio-economic pyramid with economic opportunities to improve their quality of life and their community through the provision of effective and sustainable financial services, represents 55% of the microfinance commitments of the Foundation in Cambodia where it currently has three partner MFIs.
Created in 2008, under the joint impetus of the directors of Crédit Agricole S.A. and Professor Yunus, winner of the 2006 Nobel Peace Prize and founder of the Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-business operator that contributes to the fight against poverty through financial inclusion and entrepreneurship with a social impact. As an investor, lender, technical assistance coordinator and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.