Release date: 19 April 2016
Promoter – Financial Intermediary
Banque SOCREDOLocation
Description
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.
Objectives
Financing of small/medium projects carried out by micro-entrepreneurs.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 8 million
Total cost (Approximate amount)
Not applicable.
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 5/05/2017
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).