Italian Bank “Banca Etica” Investing Million Euro in Microcredit Foundation LIDER

Italian Bank “Banca Etica” Investing Million Euro in Microcredit Foundation LIDER

Banca Etica, the only bank in Italy and one of the leading in Europe to operate exclusively according to the principles of ethical finance, establishes its first partnership in the Balkans by granting a loan of 1 million euros to the LIDER Microcredit Foundation (MKF LIDER). Objective: to offer support to the development of microfinance in the Federation of Bosnia and Herzegovina through one of the most active and recognized local institutions in the sector.

LIDER is one of the most recognizable MFIs in Bosnia offering a wide range of financial and non-financial services to over 7,700 customers in the country, reached thanks to a network of 22 offices spread throughout the territory, and is the founder and owner of an online platform for small businesses called Pravi Lider (in English: Real Leader). The Web infrastructure allows you to advertise products and services for free, to access educational content, to promote the search for partnerships and investors; and its members find in a single virtual space news of the current public tenders and other key information for the business, as well as the possibility of creating a small website for free. Through the definition of a complete customer profile, micro-enterprises can also connect the different company pages active on social networks and media channels and get in touch with many small entrepreneurs and farmers in Bosnia and Herzegovina, even outside the LIDER network.

“We are very pleased to be helping LIDER in their efforts to continue to provide important financial support and high-quality non-financial services to micro entrepreneurs in Bosnia and Herzegovina,” said Gabriele Giuglietti, Head of International Development at Banca Etica and added: “We, at Banca Etica believe, that the benefits of social financing need to be felt at the grassroots level, if we wish to contribute to stronger growth of financial sector and overall economy in Bosnia and Herzegovina. I am confident that this partnership is yet another right step in this direction.”

Director of MKF LIDER, Džavid Sejfović stated: “The cooperation with Banca Etica will strengthen our capacities to further ensure access to quality and adequate financial and non-financial services for our clients. We believe that this is just the beginning of our successful cooperation with Banca Etica as we share the same beliefs when it comes to microfinance and social financing. We are very proud and honored by the fact that our success in providing high quality financial and non-financial services caught the attention of such respectable institution, such as Banca Etica, choosing LIDER to be their first partner in this part of Europe.”