In Mali, the Foundation makes two new investments
The Grameen Crédit Agricole Foundation has granted two new loans to its Malian partners. RMCR received two loans of € 500,000 and € 200,000 in CFA francs. The first aims at developing the institution's traditional microfinance activities, while the latter is designed to enable it to set up a microinsurance project. RMCR (Réseau de Micro Institutions de Croissance de Revenus) provides financial services adapted to the rural poor, particularly women, excluded from the traditional financial system and inculcates an entrepreneurial culture in order to facilitate their economic development. As of March 2017, the institution had 37,000 active borrowers, 64% of them women, for an average loan amounting to € 274.
For its part, PAMF-Mali, which has diversified by expanding to urban areas and offers a wide range of products, including credit and savings products, tailored to meet the needs of farmers, artisans and traders, was granted a first loan amounting to € 760,000 over a three-year period. The institution, established in the Mopti region following an initiative by the Malian government to develop the microfinance industry in the country, had 17,000 active borrowers as of March, 35% of them women, for an average loan of € 431.