MICROCRED IV

Reference: 20150635
Release date: 1 October 2015

Promoter – Financial Intermediary

Microcred SAS, a microfinance holding company incorporated in France.

Location

Africa, Caribbean and Pacific

Description

Participation in the next capital increase of Microcred

Objectives

The proposed operation will support the growth and development of Microcred's network of microfinance institution affiliates in particular in sub-Saharan Africa.

Sector(s)

Services - Financial and insurance activities

Proposed EIB finance (Approximate amount)

EUR 4 million

Total cost (Approximate amount)

EUR 24 million

Environmental aspects

N/A

Procurement

N/A

Status

Signed - 14/04/2016

General enquiries and comments

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Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Africa, Caribbean and Pacific Services