The Foundation funds PAIDEK, new partner in DRC
In the Democratic Republic of Congo, the Foundation granted a loan equivalent to €500,000 over a three-year period to PAIDEK (Promotion et Appui aux Initiatives de Développement Economique du Kivu), launched in 1993 as a programme aiming at organising microcredit actions.
PAIDEK, which is geographically located on North and South Kivu, operates in both urban and rural areas. Its role is to finance the development of small commercial or livestock-raising activities, the very ones that ensure the survival of a society lacking industrial infrastructures as well as economic and social institutions.
As of end of June 2016, the institution had 16,700 active borrowers, 51% of them women and 49% of them living in rural areas, for an average loan amount of € 212.