MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Guarantees Half of $2.7m From Standard Chartered Bank to Mitra Bisnis Keluarga (MBK) Ventura of Indonesia

The Grameen Credit Agricole Microfinance Foundation (GCAMF), which was founded in Luxembourg by French bank Credit Agricole and Grameen Trust of Bangladesh, has reported to MicroCapital that it has issued an IDR 12.5 billion (USD 1.4 million) guarantee to Mitra Bisnis Keluarga (MBK) Ventura, an Indonesian microfinance institution (MFI), via a stand-by letter of credit through Credit Agricole Corporate and Investment Banking (CA-CIB), the investment banking arm of Credit Agricole Group. The guarantee will cover half of an IDR 25 billion (USD 2.7 million) loan from Standard Chartered Bank, a UK-based bank, with a two-year maturity period. The interest rate of the loan has not been disclosed.

In 2010, MBK Ventura reported to the US-based Microfinance Information Exchange (MIX) total assets of USD 22.6 million and a gross loan portfolio of USD 16.9 million disbursed to approximately 212,000 borrowers. It had return on assets of 6.4 percent and return on equity of 37.52 percent and total deposits of USD 3.2 million as of the same year.

By Charlotte Newman, Research Associate

About MBK Ventura
Mitra Bisnis Keluarga (MBK) Ventura is an Indonesian microfinance institution that was established in 2006. It has the vision of raising the living standards of lowest-income quartile of the population in Indonesia by providing access to micro and small working capital loans to large numbers of households, particularly in rural areas. In 2010, MBK Ventura reported total assets of USD 22.6 million, a gross loan portfolio of USD 16.9 million and 222,316 clients. It had return on assets of 6.4 percent and return on equity of 37.52 percent and total deposits of USD 3,242,922 as of the same year.

About Grameen Credit Agricole Microfinance Foundation (GCAMF)
The Grameen Crédit Agricole Microfinance Foundation (GCAMF) was founded in 2008 with an endowment of EUR 50 million (approximately USD 64 million) provided by Crédit Agricole SA, a French retail bank, and Grameen Trust (GT), a nonprofit microfinance organization affiliated with Grameen Bank of Bangladesh. GCAMF offers a range of financing products to microfinance institutions (MFIs), focusing on MFIs that prioritize rural development transparency, consumer protection and serving women. As of December 31, 2011, GCAMF reports 45 investment projects in 19 countries that support 30 microfinance institutions (MFIs), four social-business projects and one fund that covers foreign-exchange risk.

Sources and Additional Resources:

Information sent from Grameen Credit Agricole Microfinance Foundation to MicroCapital.

MicroCapital.org story, January 26, 2012, “MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Lends $1.5m to Microfinance Institutions Tuba Rai Metin of East Timor; Humo and Partners, Arvand of Tajikistan,” https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-lends-1-5m-to-microfinance-institutions-tuba-rai-metin-of-east-timor-humo-and-partners-arvand-of-tajikistan/

MicroCapital.org story, November 22, 2011, “MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Issues $330k Loan Guarantee for Microfinance Institution TIAVO of Madagascar,” https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-issues-330k-loan-guarantee-for-microfinance-institution-tiavo-of-madagascar/

MicroCapital Universe Profile: Grameen Credit Agricole Microfinance Foundation (GCAMF)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Credit+Agricole+Microfinance+Foundation

MicroCapital Universe Profile: MBK Ventura
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mitra+Bisnis+Keluarga+%28MBK%29+Ventura

MicroCapital Universe Profile: Grameen Trust
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Trust

Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/

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