MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation (GCAMF) to Loan $599k to Oxus Tajikistan

The Grameen Crédit Agricole Microfinance Foundation (GCAMF), an organization that offers financing products to microfinance institutions (MFIs) and social business projects in Africa and Eurasia, recently informed MicroCapital that it has approved a three-year, local-currency loan equivalent to USD 599,000 to the MFI Oxus Tajikistan. As of June 30, 2012, the institution had approximately 10,000 clients, 82 percent of whom lived in rural areas and 33 percent of whom were women. Approximately 50 percent of Oxus Tajikistan’s clients apply their loans to trade and services activities and approximately 40 percent use the loans for livestock and horticulture. As of December 31, 2011, Oxus Tajikistan reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 11.1 million, a gross loan portfolio of USD 10.5 million, return on assets (ROA) of 3.38 percent and return on equity (ROE) of 15.32 percent. The institution does not accept deposits.

As of December 31, 2011, GCAMF reports reported total assets of EUR 51.1 million (USD 66.2 million) and 45 investment projects in 19 countries that support 30 MFIs, four social-business projects and one fund that covers foreign-exchange risk.

By Nicole Boyd, Research Associate

About Oxus Tajikistan
Oxus Tajikistan is a microfinance institution that was founded in Tajikistan in 1998 as the local microfinance project of the French NGO, Agency for Technical Cooperation and Development (ACTED). It aims to improve food security, provide access to financial services and empower savings and credit groups across the country and seeks to increase its impact through microloans that support small businesses. In October 2005 ACTED created the Oxus Group, which as of December 2012 has MFIs in Afghanistan, Kyrgyzstan Uzbekistan, Tajikistan, and the Democratic Republic of Congo. Oxus Development Network, the Group’s consulting company, offers technical assistance to Oxus MFIs and facilitates the development of new branches. As of December 31, 2011, Oxus Tajikistan reported to MIX total assets of USD 11.1 million, a gross loan portfolio of USD 10.5 million, return on assets (ROA) of 3.38 percent and return on equity (ROE) of 15.32 percent. Oxus Tajikistan had approximately 10,000 customers as of June 30, 2012. The institution does not accept deposits.

About The Grameen Crédit Agricole Microfinance Foundation (GCAMF)
The Grameen Crédit Agricole Microfinance Foundation (GCAMF) was founded in Luxembourg in 2008 by Crédit Agricole SA, a French retail bank, and Grameen Trust (GT), 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 31, 2011, GCAMF reports reported total assets of EUR 51.1 million (USD 66.2 million) and 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 provided by The Grameen Crédit Agricole Foundation to MicroCapital.

MicroCapital. January 25, 2013, “MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation (GCAMF) Loans $666k to FinDev of Azerbaijan, $320k to Phoenix+ of Tajikistan,” http://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-loans-666k-to-findev-of-azerbaijan-320k-to-phoenix-of-tajikistan/

MicroCapital. November 27, 2012, “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,” http://www.microcapital.org/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/

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

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

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

Share

Comments are closed.