MICROCRED III

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

• Africa, Caribbean and Pacific

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