ProCredit Holding AG & Co. KGaA
BIO has invested € 3 M in equity in Procredit Holding, which supports SME banks in Eastern Europe and Ecuador.
Amount
€ 3,000,000.00
Type of investment
Equity
Development impacts
- Local economic growth
- Financial inclusion
Beneficiary locations
Investment field
Financial Institutions
Activity
MFI
Organisation
ProCredit Holding AG & Co. KGaA
Website
https://procredit-holding.com/ProCredit Holding is an investment company that supports SME banks in Eastern Europe and Ecuador. Its mission is to provide financial services to SMEs and low-income individuals which are excluded from the formal banking sector.
Development impacts
-
Local economic growth
Procredit invests in local microfinance institutions. In addition, MFIs provide small local entrepreneurs with a stable and relatively cheap source of finance. The target sector is small and micro enterprises (maximum 10 persons employed).
-
Financial inclusion
MFIs also offer other financial services to the local low-income population, such as the possibility of opening current accounts or term deposits, or making national and international payments. Around 180,000 clients currently use these services.
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