BNP Paribas China, in association with the Microfinance activity at BNP Paribas, has granted a €1.8 million loan to MicroCredNanchong, a microfinance institution in the PlaNetFinance Group. This loan was granted in local currency to protect the institution against currency risk.
The average amount of MicroCredNanchong's microloans represents 60% of GDP per capita and the minimum amount is $300. Before granting loans to its 7,000 customers, who are largely from the agriculture or forestry sectors or small businesses, MicroCredNanchong takes into account the environmental impact of the activities.
This new loan reflects the bank's strong commitment to fighting social exclusion worldwide.
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Microfinance consists of delivering a full line of financial products to people excluded from...