The Grameen Credit Agricole Foundation funds a new partner in Tajikistan
The Grameen Crédit Agricole Foundation granted a first loan, in local currency, equivalent to € 1 million to the microfinance institution OXUS Tajikistan, over a three-year period. With this loan, the Foundation now has three partners in this country.
OXUS Tajikistan is a microfinance institution created in 1997 as a microfinance programme of the French NGO ACTED. It offers different types of products to best meet the specific needs of its clients, with individual loans accounting for 80% of the affiliate’s outstanding loan balance against 20% for group loan products. Over two-thirds of OXUS Tajikistan's clients are traders and over 45% make a living from livestock and horticulture.