MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Lending $1.5m to Chamroeun Microfinance of Cambodia, Koperasi Mitra Dhuafa (Komida) of Indonesia, Tuba Rai Metin (TRM) of Timor-Leste

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based investor in microfinance institutions (MFIs) and other social businesses, recently notified MicroCapital that it is disbursing local-currency loans totalling the equivalent of EUR 1.2 million (USD 1.5 million) to three MFIs in South-East Asia: Chamroeun Microfinance, a Cambodian MFI that offers savings, loans and microinsurance, will receive EUR 507,000 (USD 634,000) over a three-year period; Koperasi Mitra Dhuafa (Komida), an Indonesian MFI, will receive EUR 370,000 (USD 463,000) over a four-year period; and Tuba Rai Metin (TRM), a nonprofit MFI that serves women and small businesses in Timor-Leste, will receive EUR 299,000 (USD 374,000) over three years [1].

As of December 2013, Chamroeun Microfinance reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 7.8 million, a gross loan portfolio of USD 6.3 million disbursed to approximately 52,400 borrowers and total deposits of USD 866,400 from approximately 76,400 depositors. It also reported return on assets (ROA) of -0.13 percent and return on equity (ROE) of -0.63 percent for the same period.

As of December 2013, Komida has an loan portfolio of EUR 7.9 million (USD 10.5 million) outstanding to 142,200 borrowers [2]. Komida lends exclusively to women.

TRM reported to MIX total assets of USD 4.7 million, a gross loan portfolio of USD 3.7 million outstanding to approximately 6,200 clients, deposits of USD 1.2 million from approximately 5,500 depositors, ROA of -0.47 percent and ROE of -1.73 percent as of December 2013.

As of December 2013, GCAMF reported total assets of EUR 50.6 million (USD 63.3 million).

By Nisha Koul, 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 microinsurance. The MFI also engages micro- and small entrepreneurs in skills training. As of December 2013, Chamroeun reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 7.8 million, a gross loan portfolio of USD 6.3 million disbursed to approximately 52,400 borrowers and total deposits of USD 866,400 from approximately 76,400 depositors. It also reported return on assets (ROA) of -0.13 percent and return on equity (ROE) of -0.63 percent for the same period.

About Koperasi Mitra Dhuafa (Komida): Koperasi Mitra Dhuafa (Komida) was established in 2004 in Jakarta, Indonesia. The institution received technical assistance from Grameen Bank, a microfinance bank 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 institutional profile available on the Grameen Credit Agricole Microfinance Foundation (GCAMF) website. Komida lends exclusively to women.

About Tuba Rai Metin (TRM): Tuba Rai Metin (TRM) of Timor-Leste is a nonprofit microfinance institution that aims to provide “microfinance and allied services for a large number of poor in a sustainable and regulated manner to improve the quality of lives of families and empower women.” As of December 2013, TRM reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 4.7 million, a gross loan portfolio of USD 3.7 million disbursed to approximately 6,200 clients, deposits of USD 1.2 million from approximately 5,500 depositors, return on assets (ROA) of -0.47 percent and return on equity (ROE) of -1.73 percent.

About Grameen Credit Agricole Microfinance Foundation (GCAMF): The Grameen Credit Agricole Microfinance Foundation (GCAMF) provides financial services to microfinance institutions (MFIs) and social business projects. GCAMF was founded in Luxembourg in 2008 by Crédit Agricole SA, a French retail bank, and Grameen Trust, a nonprofit microfinance organization affiliated with Grameen Bank of Bangladesh. In financing microfinance institutions (MFIs), GCAMF focuses on those that prioritize rural development, transparency, consumer protection and serving women. 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 by Grameen Credit Agricole Microfinance Foundation to MicroCapital

[2] Grameen Credit Agricole Microfinance Foundation (GCAMF), Institutional profile, KOMIDA

MicroCapital, July 2014, Grameen Credit Agricole Microfinance Foundation (GCAMF) Invests $500k in Equity to Acquire 8% of Kenyan Microinsurer Agriculture and Risk Enterprise (ACRE), Loans $334k to Ecumenical Church Loan Fund (ECLOF) for Technical Assistance

MicroCapital, October 2013, Grameen Credit Agricole Microfinance Foundation (GCAMF) Distributes $675k Loan to Cambodian MFI Chamroeun,Takes 20% Stake and Gives Funding to Senegalese Senegalaise des Filieres Alimentaires SA (SFA)

MicroCapital, January 2013, Grameen Crédit Agricole Microfinance Foundation (GCAMF) Loans $751k to Komida of Indonesia, $812k to Alidé of Benin

MicroCapital, January 2012, Grameen Crédit Agricole Microfinance Foundation (GCAMF) Lends $1.5m to Microfinance Institutions Tuba Rai Metin of East Timor; Humo and Partners, Arvand of Tajikistan

MicroCapital Universe Profile, Chamroeun

MicroCapital Universe Profile, Koperasi Mitra Dhuafa (Komida)

MicroCapital Universe Profile, Tuba Rai Metin (TRM)

MicroCapital Universe Profile, Grameen Credit Agricole Microfinance Foundation (GCAMF)

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