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Loan to Microcred Mali: Supporting microfinance for small-scale entrepreneurs
Project
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Signature date
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Location
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Mali
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Financing tool
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Financing amount (Euro)
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4585170
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Financing details
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XOF 3m Subordinated loan and 11,700 EUR Technical Assistance
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Customer
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MICROCRED MALI-SA
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Type of customer
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Microfinance
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Country of headquarters
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Mali
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Project number
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PML1058
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Environmental and social ranking
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C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Microcred Mali is a microfinance institution which supports microentrepreneurs and small-scale entrepreneurs across the country. PROPARCO is supporting the development of its activities via a subordinated loan in local currency.
Client presentation
Microcred Mali is a microfinance institution which started its operations in August 2013 with a first branch in Bamako. Microcred today has some 10,000 borrowers, 260 employees, and a network of 12 branches and service points.
The latest branches opened are in Segou, Kayes and Mopti.
Project description
This subordinated loan in local currency is earmarked to support the growth in Microcred Mali’s activity. Indeed, this loan with a 5-year maturity will strengthen the capitalization ratio and leverage financing.
This technical assistance in 2019 will finance the participation of three of the MFI’s employees in the Boulder microfinance training program.
Project impact
Microcred Mali finances microentrepreneurs and small-scale entrepreneurs who have difficulty accessing basic financial products and services via the traditional banking sector. PROPARCO’s operation will provide access to microcredit for some 14,000 new clients, 40% being women, for a financing volume increased by EUR 4.3m. In a country where the rate of use of the banking system is among the lowest on the continent, the institution aims to develop a comprehensive range of financial products and services tailored to all its clients’ needs.