Release date: 19 December 2006
Promoter – Financial Intermediary
MicroCred
Attn.: Mr Arnaud Ventura, Managing Director & CEO
13 rue Dieumegard
93400 Saint-Ouen
France
Location
Description
Equity investment in a regional fund incorporated in France dedicated to the creation and acquisition of commercially sustainable microfinance institutions (MFIs).
Objectives
Achieving a commercially acceptable return in the microfinance area and a social return through the deployment of equity or convertible debt to new or existing MFIs in developing countries.
Comments
Financial sector
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 3 million from ACP-Investment Facility resources
Total cost (Approximate amount)
Not applicable.
Environmental aspects
Investee companies to meet the Bank’s environmental standards to be monitored by the Fund Manager.
Procurement
Not applicable.
Status
Signed - 2/03/2007
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).