The Foundation grants a new loan to FMCC in Kyrghyzstan
The Foundation granted a new loan for a total amount in local currency equivalent to € 449 000 over a three-year period to the microfinance institution FMCC (First MicroCredit Company). First MicroCredit Company is the most important MFI in the south of the country and represents 5% of the microfinance market share. The activity of the institution, created in 2006, focuses on providing loans, in particular in the livestock and agricultural sectors, which reflects the macroeconomic characteristics of the country. To date, the institution has over 14 500 active borrowers, 43% of them being women and 94% of them living in rural areas.