The Grameen Credit Agricole Foundation is pursuing 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 one granted to this institution which grants microcredits and support for business creation to small entrepreneurs in many regions of the Moldova Republic.
Many of the beneficiaries of Microinvest loans are entrepreneurs living in rural areas, in this landlocked country between Ukraine and Romania. It is one of the main MFIs in Moldova with its head office located in Chisinau. To date, Microinvest serves over 35,000 active borrowers, of which 47% are women and 66% are clients located in rural areas.
With this investment, the Foundation consolidates its presence in the region of Eastern Europe and Central Asia, where it already has 19 partners in 10 countries. This region thus represents 26% of the portfolio monitored 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.