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DEVENCO DEVENCO - MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Lends $2m to Microfinance Instit
MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Lends $2m to Microfinance Instit

The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based organization founded by Crédit Agricole and Grameen Trust, has reported to MicroCapital that it made loans to four microfinance institutions (MFIs): Hekima of the Democratic Republic of the Congo, Finance for Development LLC (FinDev) of Azerbaijan, and Chamroeun and Thaneakea Phum (Cambodia) Limited (TPC) of Cambodia.

Hekima, which reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 2.81 million, a gross loan portfolio of USD 1.24 million, 11,370 active borrowers, return on assets (ROA) of 0.65 percent and return on equity (ROE) of 1.52 percent as of December 2010, has received a loan of USD 250,000. Hekima reported to MIX deposits of USD 765,000 and 13,213 depositors as of December 2010.

FinDev, which reported to MIX total assets of USD 12.6 million, a gross loan portfolio of USD 11.3 million and approximately 8,580 active borrowers as of September 2011, has received the AZN equivalent of USD 620,000.

Chamroeun, which reported to MIX a gross loan portfolio of USD 2.22 million and 20,492 active borrowers as of June 30, 2011, has received the KHR equivalent of USD 480,000. As of December 31, 2010, it reported to MIX total assets of USD 1.99 million, return on assets of 4.84 percent and return on equity of 15.4 percent.

TPC, which reported to MIX a gross loan portfolio of USD 25.7 million and 84,824 active borrowers as of June 30, 2011, has received THB equivalent of USD 690,000. As of December 2010, TPC reported total assets of USD 28.3 million, return on assets (ROA) of 2.78 percent and return on equity (ROE) of 14.7 percent.

GCAMF was founded in 2008 with a EUR 50 million (USD 73 million) endowment provided by Crédit Agricole SA, a French retail bank, and Grameen Trust (GT), a nonprofit microfinance organization based in Bangladesh.

 

 

 
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