EBRD Approves 5mln Euro Loan to Bosnian Microfinance Firm Partner MKF Tuzla

Print
 
May 2020
Bosnia and Herzegovina, May, 20 2020 - Partner MKF Tuzla, Bosnia's third largest non-deposit microfinance institution, will receive the seniour unsecured loan in two equal tranches of 2.5 million euro, with the second tranche being still uncommitted, the EBRD said in a statement.

The European Bank for Reconstruction and Development (EBRD) said on Wednesday it has approved a loan of up to 5 million euro ($5.5 million) to Bosnia's Partner MKF Tuzla for on-lending.

Partner MKF Tuzla, Bosnia's third largest non-deposit microfinance institution, will receive the seniour unsecured loan in two equal tranches of 2.5 million euro, with the second tranche being still uncommitted, the EBRD said in a statement.

The loan is extended under the EBRD Resilience Framework, which is part of the Bank's response to the Covid-19 pandemic, and will thus allow Partner to meet the liquidity needs of its micro clients that are experiencing a decrease in activity, turnover and profitability leading to payment delays and liquidity issues for the whole economy, it added.

The facility will also help Partner to remain an active and effective market player amid the Covid-19 pandemic, and to continue commercial lending in line with comparable microfinance sector participants, the EBRD said.

Partner held a 16% market share on the Bosnian market in terms of total assets in the third quarter of 2019. It has 62 branches across the country, employing 288 people.

Partner MKF Tuzla is registered as a foundation, and its founder is US-based international relief and development NGO Mercy Corps, the EBRD said.



Source : SeeNews
 

Research Analysis Tools

The fund indexes, institution benchmarks and other market information displayed here are all Symbiotics designed analysis tools, created in-house by our analysts and experts. Symbiotics has one of the oldest track records in microfinance investment analysis dating back to the late 1990s; its indexes and benchmarks have been regularly used as markers by investors, asset managers, financial institutions and practitioners. These, as well as several other research products, are available through the Research Account. Click on the link below to find out more.

Learn More