MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Invests $2.4m in Cambodian Microfinance Institutions Chamroeun, Thaneakea Phum Cambodia (TPC)

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs) and other social businesses, recently issued the following two loans to Cambodian MFIs: (1) EUR 599,000 (USD 649,000) to Chamroeun Microfinance, which was established in 1995, and (2) EUR 1.6 million (USD 1.7 million) to Thaneakea Phum Cambodia (TPC), an MFI that was launched in 1994. Both loans will be distributed over a three-year period.

Both Chamroeun and TPC have been partners of the GCAMF since 2010 and both organizations have received several other loans from the foundation. Between 2010 and 2013, GCAMF disbursed a total of EUR 917,000 (USD 994,000) to Chamroeun, and EUR 1.9 million (USD 2.1 million) to TPC.

As of December 2013, GCAMF reported total assets of EUR 50.6 million (USD 63.3 million). As of December 2014, Chamroeun had 47,000 active borrowers and reported KHR 40 billion (USD 9.7 million) in total assets, a gross loan portfolio of KHR 25 billion (USD 6 million) and KHR 3 billion (USD 730,000) in deposits from customers. As of December 2014, TPC reported 189,000 active borrowers, USD 134 million in total assets a gross loan portfolio of USD 115 million. The organization does not accept deposits.

By Mathew Cerf, Research Associate

About Chamroeun Microfinance

Chamroeun Microfinance is a microfinance institution (MFI) that was established in Cambodia in 1995. The organization’s mission is to help low-income people in urban areas prepare for unexpected expenses by providing savings, loans and micro insurance services. The MFI also engages micro- and small entrepreneurs in skills training. As of December 2014, Chamroeun had 46,912 active borrowers, KHR 40 billion (USD 9.7 million) in total assets, a gross loan portfolio of KHR 25 billion (USD 6 million), and KHR 3 billion (USD 730,000) in deposits. In December 2013, Chamroeun reported to the US-based non-profit Microfinance Information Exchange a return on assets (ROA) of -0.13 percent and return on equity (ROE) of -0.63 percent.

About Thaneakea Phum Cambodia, LTD(TPC)

Thaneakea Phum Cambodia (TPC) is a Cambodian microfinance institution that was launched in 1994 as part of the Small Enterprise Development program of US-based Catholic Relief Services and was officially incorporated as TPC in 2002. TPC provides loans and savings products. As of December 2014, TPC reported 189,345 active borrowers, USD 134 million in total assets, a gross loan portfolio of USD 115 million, return on assets of 6.71 percent, and on equity of 37.14 percent. TPC does currently does not accept deposits.

About Grameen Credit Agricole Foundation (GCAMF)

The 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 Crédit Agricole SA, a French retail bank, and Grameen Trust, a non-profit microfinance organization affiliated with the Grameen Bank of Bangladesh. In financing microfinance institutions (MFIs), GCAMF focuses on those that prioritize rural development, transparency, consumer protection and serving women. The foundation has been active in Azerbaijan, Bangladesh, Benin, Burkina Faso, Cambodia, Cameroon, Democratic Republic of Congo, France, Indonesia, Kenya, Kosovo, Madagascar, Mali, Palestine, Philippines, Senegal, Sri Lanka, Tajikistan, Timor Leste, Togo and Zambia. As of December 2013, GCAMF reported total assets of EUR 50.6 million (USD 63.3 million). Since its inception in 2008 through 2013, the foundation has invested in 35 microfinance institutions (MFIs), 11 social-business projects and one fund in 22 countries.

Sources and Additional Resources

[1] Information Provided to MicroCapital by Grameen Acrigole Foundation

[2] Grameen Credit Agricole, “Thaneakea Phum Cambodia LTD (TPC)”, http://www.grameen-credit-agricole.org/content/thaneakea-phum-cambodia-ltd-tpc

[3] Grameen Credit Agricole, “Chamroeun”, http://www.grameen-credit-agricole.org/en/content/chamroeun

[4] Thaneakea Phum Cambodia LTD, “Operational Highlights,” http://www.tpc.com.kh/eng/operationinfo.aspx

[5] Chamroeun, “Annual Report 2014”, http://www.chamroeun.com/media/admin/js/uploads/images/annual%20report%20eng%202014.pdf

[6] MicroCapital Universe Profile, “Grameen Credit Agricole Microfinance Foundation”, http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Credit+Agricole+Microfinance+Foundation

[7] MicroCapital Universe Profile, “Thaneakea Phum Cambodia (TPC)”, http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Thaneaka+Phum+Cambodia+%28TPC%29

[8] MicroCapital Unversie Profile, “Chamroeun Microfinance”, http://microcapital.org/microfinanceuniverse/tiki-index.php?page=CHAMROEUN+MICROFINANCE

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