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MICROCRED III

Signature(s)

Amount
€ 2,999,993.5
Sector(s)
Services : € 2,999,993.5
Signature date(s)
11/06/2015 : € 2,999,993.5
Link to source
Data sheet
MICROCRED III
Other links
Summary sheet
MICROCRED III

Summary sheet

Release date
11 December 2014
Status
Reference
Signed | 11/06/2015
20140741
Project name
Promoter - financial intermediary
MICROCRED III
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.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 3 million
EUR 32 million
Location
Sector(s)
Description
Objectives

Participation in the capital increase of Microcred, a microfinance holding company incorporated in France.

The proposed operation will support the growth and development of Microcred's network of microfinance affiliates, in particular in sub-Saharan Africa.

Environmental aspects
Procurement

N/A

N/A

Link to source
Summary sheet
MICROCRED III
Other links
Data sheet
MICROCRED III

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.

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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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