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.