EU and Helenos back microfinance in Lithuania through investments in the Lithuanian Central Credit Union.
We are very happy to announce our brand-new co-investment made in Lithuania! Helenos and EIF will strengthen the capacity of the Lithuanian Central Credit Union (LCCU) through two investments totaling EUR 3M. The investments are backed by the European Union under the capacity building’ window of the EU programme for Employment and Social Innovation (EaSI). The financing will support LCCU’s digital infrastructure, risk management and IT system, to strengthen its capital base and scale-up its micro-lending activities in Lithuania.
The LCCU is an institution with a strong social mission, dedicated to serving small and micro-enterprises in the agricultural sector and rural areas in Lithuania with limited access to traditional bank finance. 50% of its clients are women and LCCU has a strong regional outreach with its 45 credit unions covering the entire country.
For more information read the Press Release with the contributions of EU Commissioner, Nicolas Schmit, and EIF Chief Executive, Alain Godard.