It is an envelope of one million euros that the French Development Agency (AFD) will unblock to subsidize the Rural Credit of Guinea (CRG).
Indeed, the institution has signed this Monday, July 30, a financing agreement that aims to consolidate the ongoing transformations of the leader of microfinance in Guinea.
Mainly in the form of technical assistance, this support is sequenced in two phases: it is, in a first phase, a subsidy of one million euros which will support the Rural Credit of Guinea in the transformation of its system information and management, its governance and competitiveness and will accompany its recovery.
In a second phase, the grant will be supplemented by a subordinated loan to consolidate the equity of Guinea Rural Credit and provide it with long-term resources.
According to Lamarana Sadio Diallo, director general of Guinea Rural Credit, the institution he heads is the largest in microfinance in Guinea.
It is present throughout the country with 170 points of service, 400 thousand beneficiaries, 120 billion GNF of credit per year, 130 billion GNF savings with an increasingly modern structure providing quality banking services including the credit, savings, tontine, local and international transfer.
As a reminder, the AFD has been supporting Guinea Rural Credit since its birth in 1989. First, in the form of a project. Then, in the form of a public limited company in 2001, until it became autonomous in 2012.
