MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Loans $1.2m to Viator of Azerbaijan, KOMIDA of Indonesia

The Grameen Crédit Agricole Microfinance Foundation (GCAMF), a foundation providing financial services to microfinance institutions (MFIs), has agreed to provide two loans to MFIs Viator of Azerbaijan and Koperasi Mitra Dhuafa (KOMIDA) of Indonesia. GCAMF will disburse a loan for the local-currency equivalent of USD 625,000 to Viator, with a 3-year maturity and a one-year grace period. GCAMF also has bought the debt of KOMIDA, an MFI which was established with the support of US-based nonprofit Grameen Foundation USA. The loan is for the local-currency equivalent of USD 606,000 and will mature in March 2014.

Viator has a gross loan portfolio equivalent to USD 10 million and approximately 16,000 active borrowers as of December 2011. KOMIDA currently operates in the areas of Java, Aceh and Sulawesi, and reaches approximately 85,500 female borrowers, with a gross loan portfolio equivalent to USD 7.6 million.

GCAMF was founded in 2008 with an endowment of EUR 50 million (approximately USD 64 million) provided by Crédit Agricole SA, a French retail bank, and Grameen Trust (GT), a nonprofit microfinance organization affiliated with Grameen Bank of Bangladesh. As of December 31, 2011, GCAMF reports 45 investment projects in 19 countries that support 30 MFIs, four social-business projects and one fund that covers foreign-exchange risk. Grameen Foundation reported total investments of USD 19 million and total assets of USD 27.3 million as of March 31, 2011.

By Brett Cohen, Research Associate

About Viator
Viator is a microfinance institution (MFI) operating in the six poorest districts of Azerbaijan. Viator has a gross loan portfolio equivalent to USD 10 million and 15,976 active borrowers as of December 2011.

About KOMIDA
KOMIDA was established in 2004 in Jakarta, Indonesia. Having received training from Grameen Bank, a microfinance bank established in Bangladesh, KOMIDA provides loans to underserved individuals in an effort to empower poor communities through its subsidiary Yayasan Mitra Dhuafa (Yamida). KOMIDA currently operates in the 3 areas of Java, Aceh and Sulawesi and reaches female 85,513 borrowers, with a gross loan portfolio equivalent to USD 7.6 million.

About The Grameen Crédit Agricole Microfinance Foundation
The Grameen Crédit Agricole Microfinance Foundation (GCAMF) was founded in 2008 with an endowment of EUR 50 million (approximately USD 64 million) provided by Crédit Agricole SA, a French retail bank, and Grameen Trust (GT), a nonprofit microfinance organization affiliated with Grameen Bank of Bangladesh. GCAMF offers a range of 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 45 investment projects in 19 countries that support 30 MFIs, four social-business projects and one fund that covers foreign-exchange risk.

About The Grameen Foundation
The Grameen Foundation, a nonprofit based in Washington, DC, aims to help microfinance institutions throughout the world replicate the joint-liability model of the Grameen Bank of Bangladesh. The Grameen Foundation provides financial, technological and managerial support to provide new business opportunities and telecommunication services for poor people in rural areas. Though it is independent of the Grameen Bank, Dr Muhammad Yunus, the founder of the Grameen Bank, serves on the foundation’s Board of Directors. Grameen Foundation reported total investments of USD 19.0 million and total assets of USD 27.3 million as of March 31, 2011.

Sources and Additional Resources

Information was sent to MicroCapital directly from Grameen Credit Agricole Microfinance Foundation

MicroCapital.org story, May 8, 2012, “MICROCAPITAL BRIEF: US Secretary of State Hillary Clinton Expresses Concern over Investigation of Bangladeshi Microfinance Institution Grameen Bank,” https://www.microcapital.org/microcapital-brief-us-secretary-of-state-hil…

MicroCapital.org story, April 24, 2012, “MICROCAPITAL BRIEF: Bangladeshi Government to Investigate Muhammad Yunus, Social Businesses Associated with Microfinance Institution Grameen Bank,”
https://www.microcapital.org/microcapital-brief-bangladeshi-government-to…

MicroCapital Universe Profile: KOMIDA
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Kop…

MicroCapital Universe Profile:Grameen Credit Agricole Microfinance Foundation
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Gra…

MicroCapital Universe Profile: Grameen Foundation
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Gra…

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