The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to social businesses, recently informed MicroCapital that it has loaned the local-currency equivalent of EUR 500,000 (USD 555,000) over three years to Koperasi Mitra Dhuafa (Komida), an Indonesian lender to women.
As of December 2013, Komida has 59 branches and a loan portfolio of EUR 7.9 million (USD 10.5 million) outstanding to 142,200 borrowers. This data from GCAMF is the most recent available.
As of December 2014, GCAMF reported total assets of EUR 51 million (USD 57 million) and return on assets (ROA) of 6.6 percent. Since its inception in 2008 through March 2016 it has invested in 46 MFIs, 13 other social-business projects and one fund.
By Petra Barbu, Research Associate
About Komida
Koperasi Mitra Dhuafa (Komida) was established in 2004 in Jakarta, Indonesia. The institution received technical assistance from Grameen Bank, a microfinance institution in Bangladesh, and began offering microloans in August 2005. As of December 2013, Komida has 59 branches and a loan portfolio of EUR 7.9 million (USD 10.5 million) outstanding to 142,200 borrowers according to the Grameen Credit Agricole Microfinance Foundation (GCAMF). Komida lends exclusively to women.
About Grameen Credit Agricole Microfinance Foundation
Grameen Credit Agricole Microfinance Foundation (GCAMF) provides financial services to microfinance institutions (MFIs) and other social businesses. GCAMF was founded in Luxembourg in 2008 by Credit Agricole SA, a French retail bank, and Grameen Trust, a nonprofit microfinance organization affiliated with the Grameen Bank of Bangladesh. In financing MFIs, GCAMF focuses on those that prioritize rural development, transparency, consumer protection and serving women. The foundation has been active in 18 countries in Africa, Asia and Europe. As of December 2014, GCAMF reported total assets of EUR 51 million (USD 57 million) and return on assets (ROA) of 6.6 percent. Since its inception in 2008 through March 2016 it has invested in 46 MFIs, 13 other social-business projects and one fund.
Sources and Additional Resources
[1] Information provided directly to MicroCapital from GCAMF
[2] MicroCapital Universe Profile: Komida
[3] MicroCapital Universe Profile: Grameen Credit Agricole Microfinance Foundation
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: Arnur Credit of Kazakhstan Borrows $3.3m from Grameen Crédit Agricole to Expand Access to Microfinance
- MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Lends $525k to Smart Credit for Microfinance in Moldova
- MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Loans $3.2m to Faten for Microfinance in Palestine
- MICROCAPITAL BRIEF: Mi-Bospo of Bosnia and Herzegovina Borrowing $2.2m from Grameen Credit Agricole Foundation for Microfinance Lending
- MICROCAPITAL BRIEF: Oxus Kyrgyzstan Borrowing $1.6m from Grameen Credit Agricole Foundation for Microfinance Lending