Summary sheet
Release date
19 April 2016
Status
Reference
Signed | 05/05/2017
20160010
Project name
Promoter - financial intermediary
BANQUE SOCREDO MICROFINANCE
Banque SOCREDO
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 8 million
Not applicable.
Location
Sector(s)
Description
Objectives
Partial refinancing of the microfinance portfolio of SOCREDO Bank, principally in the agriculture, services, trade, fishing and tourism sectors. It is to be noted that SOCREDO has a least one branch on each important island of the archipelago, which allows the institutions to reach final beneficiaries in the whole region.
Financing of small/medium projects carried out by micro-entrepreneurs.
Environmental aspects
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
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