Within the framework of an innovative Partnership between Banca Popolare Etica (Italy), European Microfinance Network and CoopEst, CoopEst has just signed a EUR 1M senior loan agreement with FondiBESA, Albania. Under this partnership agreement, the partners are contributing to consolidate the microfinance sector in Europe and increase social impact. CoopEst is targeting EMN members thanks to a dedicated EUR 2 M funding provided by Banca Etica, with FondiBESA being the first beneficiary. FondiBESA is a distinguished MFI focused on economic growth and poverty reduction in urban and semi-urban areas of Albania.
In December 2017 CoopEst extended a new loan to Microcredit Foundation Mikra, operating in Bosnia and Herzegovina. The MFI focuses on providing loans to low-income individuals, predominantly women who constitute 75% of the borrowers. As regards the poverty outreach, nearly 100% of loans remain below the GNI per capita, with the average disbursed loan size equivalent of 1000€. In 2016 Mikra received the SMART Campaign Client Protection Certification, following the MicroFinanza rating.