Grameen Crédit Agricole Foundation, CA-CIB Loan $6.1m to Fusion Microfinance of India

Source: Microcapital, Grameen Crédit Agricole Foundation

The Grameen Crédit Agricole (GCA) Foundation and the Crédit Agricole Corporate and Investment Bank (CA-CIB) recently established a loan guarantee scheme in the amount of EUR 5.5 million (USD 6.1 million) on behalf of Fusion Microfinance Limited, a microfinance institution based in northern India. This agreement is part of a program to secure approximately EUR 12 million (USD 13.2 million) to assist Indian microfinance institutions that promote female entrepreneurship, contribute to the economic development of rural areas and support populations excluded from the traditional banking system. CA-CIB will arrange the funding, which will be guaranteed and tracked by the foundation

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