Grameen Bank receives assistance in forming joint venture and other corporate matters and intellectual property rights to offer microcredit loans to Mexico's poor
Client(s) Grameen Bank
Jones Day advised Grameen Bank on the formation and financing of Grameen Carso, S.A. de C.V., SOFOM, E.R., an approximately 50:50 joint venture with Fundación Carlos Slim of Mexico. Grameen Carso will offer microcredit loans to the neediest people in Mexico based on the Grameen lending model. Fundación Carlos Slim provided an initial contribution of U.S.$5 million, and Banco Inbursa (Mexico City) provided a U.S.$40 million credit facility to Grameen Carso. Grameen will be the manager of this strategic alliance led by experienced Grameen managers in microcredits.
Jones Day assisted with all corporate matters and in securing intellectual property rights for the Grameen name in Mexico. This representation is one of several international joint venture projects Jones Day is assisting Grameen as it expands its micro finance program in China, Latin America and other parts of the world.