The Grameen Crédit Agricole Foundation funds Vision Fund Myanmar
The Grameen Crédit Agricole Foundation has just disbursed its first loan to Vision Fund Myanmar, its second microfinance partner in the country.
With this € 1.3 million loan over a three-year period under the TCX / LIFT facility, which allows the Foundation to offer subsidised rates to beneficiary MFIs, it consolidates its action in Myanmar.
VisionFund Myanmar is working closely with its people since 1998. The institution lends small sums to people who have no financial history or assets to secure loans or access to traditional financial providers. Loans are funds that allow borrowers to set up and develop their small businesses at an affordable cost. The institution has service centers in remote rural areas. Clients also provide funding for local projects, including the construction of schools, roads or the provision of health services. As loans are repaid, other people in the community can benefit from loans.
Vision Fund Myanmar has 114,000 active clients, 87% of whom are women, for an average loan of € 146.