The Grameen Crédit Agricole Foundation grants a €330,000-loan to Chamroeun in Cambodia
The Grameen Crédit Agricole Foundation granted a €330,000-loan over a period of two years to the MFI Chamroeun in Cambodia, in which it has had a 20% shareholding stake since 2012. With this new loan, the Foundation’s cumulative investment in this company amounted to €1.6 million at the end of December 2107.
Chamroeun is a microfinance institution that puts the social purpose at the heart of its economic model. It provides financial services to the poorest segments of the population who are excluded from the offer of more commercial microfinance institutions. To maximize the impact of the loan and to provide effective help to very underprivileged families, it offers them a set of training and economic, social and personal services. At the end of September 2017, the institution had 24,530 active customers, including 81% with an average loan equivalent to €315 granted to its customers.