MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Issues $330k Loan Guarantee for Microfinance Institution TIAVO of Madagascar

The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based organization founded by Crédit Agricole and Grameen Trust, has reported to MicroCapital that it provided Tahiry Ifamonjena Amin’ny Vola (TIAVO), a microfinance institution (MFI) based in Madagascar, with a 50-percent guarantee on a loan from BNI Madagascar, a subsidiary of French retail bank Credit Agricole. This is GCAMF’s first loan guarantee in Madagascar. The loan was disbursed in local currency amounting to USD 659,000 with a tenor of three years.

GCAMF was founded in 2008 with a EUR 50 million (USD 73 million) endowment provided by Crédit Agricole SA, a French retail bank, and Grameen Trust (GT), a nonprofit microfinance organization affiliated with the Grameen Bank of Bangladesh.

TIAVO offers loans and savings primarily to poor people in rural areas in the province of Fianarantsoa. As of December 2010, TIAVO reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 8.4 million, a gross loan portfolio of USD 5.4 million, return on assets of 0.62 percent, return on equity of 3.01 percent and 8,000 active borrowers.

By Kristha Abores, Research Associate

About TIAVO:
Established in 1995, Tahiry Ifamonjena Amin’ny Vola (TIAVO) is a microfinance institution (MFI) based in Madagascar. It offers loans and savings primarily to the poor people in rural areas in the province of Fianarantsoa. As of December 2010, TIAVO reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 8.4 million, a gross loan portfolio of USD 5.4 million, return on assets of 0.62 percent, return on equity of 3.01 percent and 8,000 active borrowers.

About Grameen Crédit Agricole Microfinance Foundation (GCAMF):
The Grameen Crédit Agricole Microfinance Foundation (GCAMF) was founded in 2008 with a EUR 50 million (USD 73 million) endowment provided by Crédit Agricole SA, a French retail bank, and Grameen Trust (GT), a nonprofit microfinance organization affiliated with Grameen Bank of Bangladesh. The foundation offers a range of financing products to microfinance institutions (MFIs), focusing on MFIs dedicated to agricultural and rural development that primarily serve women and those that prioritize transparency and consumer protection.

Sources and Additional Resources:

[1] Information submitted by Grameen Crédit Agricole Microfinance Foundation to MicroCapital, November 2011

MicroCapital.org article, November 21, 2011, “MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Lends $2m to Microfinance Institutions Hekima of Congo; Findev of Azerbaijan; Chamroeun, TPC of Cambodia,” https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-lends-2m-to-microfinance-institutions-hekima-of-congo-findev-of-azerbaijan-chamroeun-tpc-of-cambodia/

MicroCapital.org article, January 3, 2011, “MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Makes $1.8m
Local-Currency Loan to Koperasi Mitra Dhuafa (Komida) of Indonesia and Thaneakea Phum Cambodia (TPC), Chamroeun Microfinance of Cambodia,” https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-makes-1-8m-local-currency-loan-to-koperasi-mitra-dhuafa-komida-of-indonesia-and-thaneakea-phum-cambodia-tpc-chamroeun-microfin/

MicroCapital Universe Profile: TIAVO, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tahiry+Ifamonjena+Amin%27ny+Vola+%28TIAVO%29

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

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

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