In March 2020, OeEB signed a USD 15 million loan facility agreement with ASA International, one of the world's largest international microfinance institutions. The funds will be used to finance low-income female micro-entrepreneurs in mainly urban and semi-urban regions in Africa and Asia who have limited access to traditional banks.
|Project name||ASA International|
Financial sector / Microfinance / SME
|OeEB project volume||
USD 15 million
|Project partner(s)||ASA International Holding|
ASA International was established in 2007 and internationally exported the ASA Model of microfinance developed by ASA (Association for Social Advancement) NGO Bangladesh, one of the world’s leading microfinance institutions by number of borrowers. Since 2018, ASA International Group plc is listed on the Main Market of the London Stock Exchange as a Premium listed company. The Group is now active in 13 countries in Asia and Sub-Saharan-Africa with the focus on providing socially responsible loans for income-generating activities to predominantly female-owned microenterprises. ASA International provides on average USD 300 loans, depending on the loan cycle, disbursed in local currency with a duration of 6 to 12 months.
Access to financial services is an important step towards reducing poverty and inequality. The loan provided by OeEB enables ASA International to expand its business which will improve access to finance for micro and small businesses owned by women. This will contribute to strengthening the private sector, creating and maintaining jobs, reducing poverty and improving gender equality.