MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans $989k to WAGES of Togo, $445k to Azeri Star of Azerbaijan, $153k to Berendina Microfinance of Sri Lanka

Grameen Credit Agricole Microfinance Foundation (GCAMF), an organization that provides funding and financial services to microfinance institutions (MFIs) and social business projects, recently issued an AZN 350,000 (USD 445,000) loan to Azeri Star, an Azerbaijani MFI. The loan has a three-year maturity and one-year grace period. Further information on the loan has not been released. As of September 30, 2012, Azeri Star reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 3.28 million and a gross loan portfolio of 2.75 million disbursed to 4,820 active borrowers. Azeri Star does not accept deposits.

In further news, GCAMF also recently issued a local-currency guarantee to Berendina Microfinance of Sri Lanka worth approximately USD 153,000. The guarantee is for a three-year loan of LKR 20 million (USD 153,000) from an unspecified local bank. As of June 30, 2012, Berendina reported to MIX total assets of USD 7.5 million and a gross loan portfolio of USD 7.1 million disbursed to approximately 45,000 borrowers. Berendina does not accept deposits.

GCAMF also recently issued its first loan in Africa to Women and Associations for Gain both Economic and Social (WAGES), an MFI in Togo. The MFI received a loan of XOF 500 million (USD 989,000) with a 2.5-year maturity and a one-year grace period. As of 2011, WAGES reported to MIX total assets of USD 31.7 million and a gross loan portfolio of USD 26.6 million disbursed to approximately 27,000 borrowers. In the same year, WAGES accepted approximately USD 14.9 million in deposits from 135,000 depositors.

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.

By Charlotte Newman, Research Associate

About Azeri Star
Azeri Star is an Azerbaijani microfinance institution incorporated in 2003 by US-based nonprofit Save the Children Federation. Azeri Star offers business, livestock and consumer loans up to USD 2500. As of September 30, 2012 Azeri Star reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 3.28 million and a gross loan portfolio of 2.75 million disbursed to 4,820 active borrowers. Azeri Star does not accept deposits.

About Berendina Microfinance Institute
Berendina Microfinance Institute is a Sri Lankan microfinance institution. As of June 30, 2012, Berendina reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 7.5 million and a gross loan portfolio of USD 7.1 million disbursed to approximately 45,000 borrowers. Berendina does not accept deposits. As of year-end 2011, Berendina reported return on assets (ROA) of 0.28 percent and return on equity (ROE) of 1.41 percent.

About Grameen Gredit 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, August 31, 2012, “MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $1.2m to Viator of Azerbaijan, KOMIDA of Indonesia,” https://www.microcapital.org/microcapital-brief-microfinance-fund-manager-incofin-receives-1-3m-equity-investment-from-gimv-of-belgium/

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

MicroCapital Universe Profile: Azeri Star http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Azeri+Star

MicroCapital Universe Profile: Berendina Microfinance Institute http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Berendina+Microfinance+Institute

MicroCapital Universe Profile: WAGES http://microcapital.org/microfinanceuniverse/tiki-index.php?page=WAGES

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/

 

Similar Posts: