MICROCAPITAL BRIEF: Grameen Credit Agricole Lends $1m to Première Agence de Microfinance au Burkina Faso, $239k to Biotropical of Cameroon

Grameen Credit Agricole, a Luxembourg-based organization that provides financing to microfinance institutions (MFIs), recently informed MicroCapital that it has granted a 3-year loan of EUR 770,000 (USD 1.05 million) to the Première Agence de Microfinance au Burkina Faso (PAMF-BF), an MFI in Burkina Faso, and a loan of EUR 175,000 (USD 239,000) to Biotropical, a Cameroon-based fruit company that works with small farmers.

PAMF-BF aims to provide services to those who are ineligible for financial services from traditional banks and has operations in both urban and rural areas. As of June 2014, the organization has 67 employees in 5 branches across the country. As of March 2014, PAMF-BF reported a gross loan portfolio of EUR 2.49 million (USD 3.40 million) and 8,527 customers [1]. As of December 2012, PAMF-BF reported deposits of USD 2.29 million in 17,000 accounts [2].

Biotropical, which produces dried fruit and pulp for export, offers technical support and “fair” prices to the small farmers with whom it works [1]. Financial information for Biotropical is not available.

By Benjamin Krupp, Research Associate

About Grameen Credit Agricole Microfinance Foundation

The Grameen Credit Agricole Microfinance Foundation (GCAMF) was founded in Luxembourg in 2008 by Crédit Agricole SA, a French retail bank, and Grameen Trust, a nonprofit microfinance organization affiliated with Grameen Bank of Bangladesh. GCAMF offers financing products to microfinance institutions (MFIs), focusing on MFIs that prioritize rural development, transparency, consumer protection and serving women. As of December 2012, GCAMF reported total assets of EUR 51.1 million (USD 70.3 million). As of December 31, 2013, the foundation has invested in 31 microfinance institutions (MFIs), 10 social-business projects and one fund in 21 countries since its inception in 2008.

Sources and Additional Resources

[1] Information provided to MicroCapital by Grameen Credit Agricole, June 6, 2014

[2] Microfinance Information Exchange: PAMF-BF

MicroCapital, April 11, 2014: Grameen Credit Agricole Microfinance Foundation (GCAMF) Lends $4m to Arvand of Tajikistan, Bina Artha Ventura of Indonesia, Thaneakea Phum of Cambodia

MicroCapital, April 1, 2014: Grameen Credit Agricole Microfinance Founsation (GCAMF) Lends $220k to PAIDEK of the Democratic Republic of Congo, $210k to COOPEC SIFA of Togo

MicroCapital, March 18, 2014: Netherlands’ Facility for Sustainable Entrepreneurship and Food Security (FDOV), Ecom Agroindustrial, Utz Certified, AZMJ Support Small-scale Coffee Farmers in Colombia

MicroCapital, November 5, 2013: Grameen Credit Agricole Microfinance Foundation (GCAMF) Disburses $515k of $872k in Loans to Mec Fadec of Senegal, Réseau National des Caisses Villageoises d’Épargne et de Crédit Autogérées (RENACA) of Benin

MicroCapital Universe Profile: Grameen Credit Agricole Microfinance Foundation

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