On a warm Friday evening (13 May), the doors of Cera opened to welcome the partners of BRS Microfinance Coop for the annual General Meeting.
Thanks to the loans to eight microfinancing institutions in eight countries, more than 22,500 enterprising people in the South have been able to get to work with a microcredit and further develop their activities. Financially, however, it was not an easy year for our cooperative because, for the second year in a row, a loss was recorded due to the write-off of a loan to Progresemos in Mexico.
The partners had great understanding for these specific problems that arose during the corona crisis. The accounts were adopted unanimously, including the necessary decision not to distribute a dividend for the 2021 financial year.
The new investment policy could also count on a great deal of support. The Board of Directors has decided that in future it will only provide loans to microfinancing institutions that have a link with BRS vzw. With this, BRS Microfinance Coop will particularly reach rural savings and credit cooperatives working to help rural entrepreneurs and farmers. The combination of financing and advice makes the operation of BRS more relevant for organisations that today still have difficulty accessing external financing.
We thank all our partners for their trust.