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    Reference: 20140741
    Release date: 11 December 2014

    Promoter – Financial Intermediary

    MicroCred is sponsored by Planet Finance, a French microfinance group active in 88 countries around the world. Its mission is to provide quality financial services that are accessible and adapted to the needs of the individuals who are underserved and unserved by the financial sector, particularly the micro, small and medium entrepreneurs.

    Location

    Description

    Participation in the capital increase of Microcred, a microfinance holding company incorporated in France.

    Objectives

    The proposed operation will support the growth and development of Microcred's network of microfinance affiliates, in particular in sub-Saharan Africa.

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    EUR 3 million

    Total cost (Approximate amount)

    EUR 32 million

    Environmental aspects

    N/A

    Procurement

    N/A

    Status

    Signed - 11/06/2015

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    ACP States Services