MicroBank allocates more than 467 million to projects with a positive social impact

MicroBank aims to facilitate access to credit for the most vulnerable groups and strengthen the development of the socioeconomic fabric. The balance of CaixaBank's social bank during this first semester stands at the granting of more than 467 million euros to projects that generate a positive social impact.

"We are fully committed to the most vulnerable groups, our vocation is to contribute to the well-being of society," says MicroBank's president, Juan Carlos Gallego, "and the COVID-19 crisis has only increased our ambition to help ensure that recovery and social progress are within everyone's reach."

One of the mainstays of MicroBank's activity are microcredits aimed at businesses. Until June, a total of 8,381 were granted to entrepreneurs and micro-enterprises. The social bank allocated 106.1 million euros. The average amount stood at 12,660 euros, compared to 11,306 euros in the same period of the previous year. 

Likewise, microcredits granted to families, intended to satisfy basic needs such as health, education, and housing, amounted to 42,389 between January and June, and reached a value of 247.75 million euros. The average amount stood at 5,845 euros in the first semester, a 10.4% increase.

Finally, the financing of social projects has experienced a significant increase in the first half of the year. Specifically, MicroBank helped materialize 2,859 projects focused on the social economy, education, entrepreneurship, and innovation worth 113.7 million euros, representing an increase of 65% in the number of operations and 35.3% in the amount compared to the first six months of 2020.