Développement international Desjardins (DiD), a Canada-based nonprofit organization that focuses on providing technical support and investment to community financial institutions, recently granted a loan of USD 1 million to Arnur Credit, a Kazakhstan-based microfinance institution (MFI) that focuses on agribusiness and individuals living in rural areas. The loan was issued by the Desjardins Fund for Inclusive Finance, an investment fund that focuses on supporting the creation of new MFIs and strengthening existing ones. The loan is expected to further boost Arnur Credit’s growth.
Since its inception in 1991, Arnur Credit has reached 14,000 clients, and as of 2013 it had a loan portfolio of USD 36.9 million.
As of 2014, DiD has a budget of CAD 23.5 million (USD 20.5 million). Desjardins Group, the parent company of DiD, reported total assets of CAD 212 billion (USD 186 billion), a gross loan portfolio of CAD 141 billion (USD 124 billion) and deposits of CAD 137 billion (USD 120 billion) as of 2013.
By Simon Pfanner, Research Associate
About Développement international Desjardins (DiD)
Développement international Desjardins (DiD) is a Canadian nonprofit corporation that specializes in providing technical support and investment for the community finance sector in emerging economies. It assists organizations in approximately 30 nations in Africa, Asia, the Caribbean, Central and Eastern Europe and Latin America. DiD is a component of the Desjardins Group, a financial cooperative offering banking, insurance, securities and investment services, with CAD 212 billion (USD 186 billion) in assets as of 2013. As of 2014, DiD has a budget of CAD 23.5 million (USD 20.5 million).
About Desjardins Group
Desjardins Group is a cooperative financial group based in Canada that serves 6 million clients with services such as retail banking, wealth management, securities brokerage, venture capital and asset management. Members of the group include Developpement international Desjardins (DiD) and Desjardins Fund for Inclusive Finance. As of 2013, Desjardins Group reports total assets of CAD 212 billion (USD 186 billion), a gross loan portfolio of CAD 141 billion (USD 124 billion) and deposits of CAD 137 billion (USD 120 billion).
About Arnur Credit
Established in 1991, Arnur Credit is a microfinance institution (MFI) in Kazakhstan that focuses on serving rural areas of the country. Its main shareholder is Credit Association Odra Credit LLP, a Kazakhstan-based credit cooperative with headquarters in the city of Shymkent. Since its inception, Arnur Credit has reached 14,000 clients, and it had a loan portfolio of USD 36.9 million in 2013. Arnur Credit does not take deposits.
Sources and Additional Resources
[1] Information provided to MicroCapital by Développement international Desjardins (DiD)
MicroCapital, October 22, 2014, Développement international Desjardins (DID), International Co-operative Alliance (ICA), Proxfin Members Endorse Draft Declaration on Food Security, Job Creation, Access to Healthcare
MicroCapital, October 11, 2014, Senegal, IFAD Engage Développement International Desjardins (DID) to Research Financial Inclusion in West Africa
MicroCapital, October 7, 2014, Développement International Desjardins (DID), Agence Française de Développement (AFD) to Support Faîtière des Unités Coopératives d’Epargne et de Crédit du Togo (FUCEC-TOGO) in Product Development
MicroCapital Universe Profile: Développement international Desjardins (DiD)
MicroCapital Universe Profile: Desjardins Group
MicroCapital Universe Profile: Arnur Credit
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
Similar Posts:
- MICROCAPITAL BRIEF: Maquita Cushunchic Borrowing $2m from DID Aequitas Fund for Microfinance, Small-enterprise Lending in Ecuador
- MICROCAPITAL BRIEF: Microfinance Institution 4 de Octubre Borrows $1.5m from Aequitas Fund for Onlending in Ecuador
- MICROCAPITAL BRIEF: Desjardins Lending $1m from Aequitas Impact Fund to ADIGUA to Expand Microfinance Loans in Guatemala
- MICROCAPITAL BRIEF: Arnur Credit of Kazakhstan Borrows $3.3m from Grameen Crédit Agricole to Expand Access to Microfinance
- MICROCAPITAL BRIEF: Aequitas Impact Fund Loans $1.7m to Sipem Banque to Boost Microfinance in Madagascar
