In recognition of the bank’s commitment to and focus on its social mission of providing financial services to the economically active poor since 2009, Bosak Microfinance Bank has attracted the attention of foreign impact financing institutions.
The bank recorded its landmark achievement of sourcing international funding by signing a loan agreement with Grupeer, a foreign investment organization based in Latvia. After completion of due diligence, research, and financial analysis of Bosak Microfinance Bank to determine its stability, capacity and commitment to social performance, Grupeer’s representative, Mr. Edgars Rauza commented: “I am very excited to have our first African partner on the platform. Just last week we launched our first Asian company and this was a major success. We look forward to test the African market!” Bosak Microfinance Bank is the first African institution the organization will be investing in.
More information about the partnership is available on Grupeer’s blog here https://www.grupeer.com/blog/the-helping-hand-of-bosak/.
The bank is also about to complete loan agreement process with Oikocredit, a notable Netherlands based impact financing organisation.