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MICROCRED (PLANET BANK)

Signature(s)

Amount
€ 3,000,000
Sector(s)
Services : € 3,000,000
Signature date(s)
28/02/2007 : € 3,000,000
Link to source
Data sheet
MICROCRED (PLANET BANK)
Other links
Summary sheet
MicroCred

Summary sheet

Release date
19 December 2006
Status
Reference
Signed | 02/03/2007
20050441
Project name
Promoter - financial intermediary
MicroCred

MicroCred
Attn.: Mr Arnaud Ventura, Managing Director & CEO
13 rue Dieumegard
93400 Saint-Ouen
France

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 3 million from ACP-Investment Facility resources
Not applicable.
Location
Sector(s)
Description
Objectives

Equity investment in a regional fund incorporated in France dedicated to the creation and acquisition of commercially sustainable microfinance institutions (MFIs).

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.

Environmental aspects
Procurement

Investee companies to meet the Bank’s environmental standards to be monitored by the Fund Manager.

Not applicable.

Comments

Financial sector

Link to source
Summary sheet
MicroCred
Other links
Data sheet
MICROCRED (PLANET BANK)

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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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