Reference:
20140741
Release date: 11 December 2014
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).