MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Lends $170k in Local Currency to Togo’s COOPEC SIFA

The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has disbursed the initial tranche of a loan equivalent to approximately USD 170,000 in local currency to Coopérative d’Epargne et de Crédit des Soutien aux Initiatives de Femmes pour l’Autopromotion (COOPEC SIFA), an MFI in Togo that focuses on serving poor women. The full amount of the loan is expected to be disbursed by May 2017.

COOPEC SIFA does not report to the US-based nonprofit Microfinance Information Exchange (MIX), and financial information on the MFI is not available through other sources. As of March 2015, COOPEC SIFA reported approximately 21,000 active borrowers. 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 MFIs, 11 social-business projects and one fund in 22 countries.

By Meredith Steih, Research Associate

About Coopérative d’Epargne et de Crédit des Soutien aux Initiatives de Femmes pour l’Autopromotion (COOPEC SIFA):

Coopérative d’Epargne et de Crédit des Soutien aux Initiatives de Femmes pour l’Autopromotion (COOPEC SIFA) is a microfinance institution (MFI) that focuses on providing financial services to poor women in Togo. The organization WAS started as a project of Mouvement des Jeunes et Adultes Ruraux et Catholiques (JARC), a non-governmental organization (NGO) that aims to offer financial services to poor women in rural areas of Togo. COOPEC SIFA does not report to the US-based nonprofit Microfinance Information Exchange (MIX), and financial information on the MFI is not available otherwise. As of March 2015, COOPEC SIFA reported approximately 21,000 active borrowers.

About Grameen Credit Agricole Microfinance Foundation:

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 18 countries in Africa, Asia, and Europe. 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 directly to MicroCapital by GCAMF

MicroCapital Universe Profile: Grameen Credit Agricole Microfinance Foundation

MicroCapital Universe Profile: COOPEC SIFA

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