MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $424k to Sri Lanka’s Janamithu Lanka Limited, $841k to Tajikistan’s Humo and Partners

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 issued the following two loans: (1) The equivalent of EUR 462,000 (approximately USD 424,000) in local currency over three years to Janamithu Lanka Limited (JLL), a microfinance institution (MFI) in Sri Lanka that offers loans to poor people for education and asset building; and (2) EUR 850,000 (approximately USD 841,000) over one year to Humo and Partners, a Tajikistan-based MFI founded by the local affiliate of Switzerland-based nongovernmental organization CARE International. The MFI lends mainly to farmers and other rural entrepreneurs [1].

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.

As of December 2014, JLL reported 15,622 active borrowers, of which 95 percent were women and 79 percent were in rural areas. Additional financial data on the MFI have not been made available via the US-based nonprofit Microfinance Information Exchange (MIX) or other standard sources.

As of December 2014, Humo and Partners reported to MIX total assets of USD 45.7 million, a gross loan portfolio of USD 36.4 million, return on assets of 1 percent and return on equity of 6.7 percent. As of March 2015, it reported 39,146 active borrowers, of which 42 percent were women and 79 percent were in rural areas. Humo and Partners received a license to accept micro-deposits in November 2013.

By Arpita Sarkar, Research Associate

About Janamithu Lanka Limited:

Incorporated in 2013, Janamithu Lanka Limited (JLL) is a microfinance institution (MFI) that took over the microfinance activities of another Sri Lanka-based MFI Agro Micro Finance, on August 1, 2014. JLL offers loans to the poor for education and asset building activities in seven districts of Sri Lanka. As of December 2014, JLL reported 15,622 active borrowers, of which 95 percent were women and 79 percent were in rural areas.

About Humo and Partners:

Founded in 2004 in Tajikistan by the local affiliate of Switzerland-based nongovernmental organization CARE International, Humo and Partners is a microfinance institution (MFI) that serves micro- and small businesses. In addition to microcredit services, Humo offers consulting services relating to cash-flow analysis and business plans. The MFI obtained a license from the National Bank of Tajikistan to accept micro-deposits in November 2013, and has started accepting deposits. As of December 2014, Humo and Partners reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 45.7 million, a gross loan portfolio of USD 36.4 million, return on assets of 1 percent and return on equity of 6.7 percent.  As of March 2015, Humo and Partners reported 39,146 active borrowers, of which 42 percent were women and 79 percent were in rural areas. The MFI operates through a network of 14 branches, 30 business services centers and 24 sub-offices, primarily in the western and southern regions of Tajikistan.

About Grameen Credit Agricole Microfinance 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 directly to MicroCapital by GCAMF

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

MicroCapital Universe Profile: Janamithu Lanka Limited (JLL), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Janamithu+Lanka+Limited+%28JLL%29

MicroCapital Universe Profile: Humo and Partners, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=HUMO+and+Partners

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