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Funding

Budget

Following a slowdown in its overall level of produc-tion in 2016, 2017 marked a recovery of the growth momentum triggered in previous years. GRET ’s volume of activities was 31.7 million euros, compared to 25.5 million in 2016.

2017 was also a year of new project proposals and acqui-sitions, with the total sum of new projects obtained amounting to more than 25 million euros. The launch of four projects accounting for more than 2.5 million euros marked the year, demonstrating the renewed confidence of our financial partners, as well, perhaps, as the evolution of their funding procedures.

The gross margin on activity, although progressing, remains insufficient and therefore covering all costs is still difficult; hence a negative gross operating surplus, although in far lesser proportion than in 2016. Ultimately, the annual balance shows a profit, due to the exceptional result generated by valuation of GRET’s capital shareholding in Thitsar Ooyin (a social business governed by local law created in 2016, generated by the microfinance activities implemented by GRET in Myanmar since 1995).