The Joint Stock Company Fund for Financial Support of Agriculture (FFSA), a state-owned provider or retail and wholesale microfinance services in Kazakhstan, reportedly has extended a loan of USD 4.5 million to cotton farmers in the Maktaaral and Shardara districts of the country. The loans have been disbursed to 491 and will be due for repayment in October and November of 2012.
For the year 2010, FFSA reported the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 90.3 million, a gross loan portfolio of USD 70.3 million, approximately 19,000 borrowers, return on assets of (ROA) 1.69 percent and return on equity (ROE) of 1.95 percent.
By Brendan Millan, Research Associate
About Joint Stock Company Fund for Financial Support of Agriculture (FFSA): Established in 1998 as the State Fund for Financial Support of Agriculture, FFSA provides credit and insurance services in rural areas of Kazakhstan. In 2007, FFSA became an affiliate of the government-controlled JSC National Holding “KazAgro” and now provides services to rural households and financial support to microcredit organizations. For the year 2010, FFSA reported the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 90.3 million, a gross loan portfolio of USD 70.3 million, approximately 19,000 borrowers, return on assets of (ROA) 1.69 percent and return on equity (ROE) of 1.95 percent.
Sources and Resources:
[1] Fibre2Fashion: “Kazakhstan Extends US 4.5mn Loan to Cotton Growers”, http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=111472
MicroCapital.org story, March 6, 2012 “MICROCAPITAL BRIEF: JSC Fund for Financial Support of Agriculture to Issue $20m to Kazakh Microfinance Institutions (MFIs) for Rural Microlending”, https://www.microcapital.org/microcapital-brief-jsc-fund-for-financial-support-of-agriculture-to-issue-20m-to-kazakh-microfinance-institutions-mfis-for-rural-microlending/
MicroCapital.org story, March 22, 2011, “MICROCAPITAL BRIEF: Microfinance Center (MFC) for Central and Eastern Europe and the New Independent States, Joint Stock Company Fund for Financial Support of Agriculture (FFSA) of Kazakhstan Launch “Center for Assistance to Microcredit Organizations” (CAMCO)”, https://www.microcapital.org/microcapital-brief-microfinance-center-mfc-for-central-and-eastern-europe-and-the-new-independent-states-joint-stock-company-fund-for-financial-support-of-agriculture-ffsa-of-kazakhstan-launch/
MicroCapital Universe Profile: Joint Stock Company Fund for Financial Support of Agriculture (FFSA), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=JSC+Fund+for+Financial+Support+of+Agriculture
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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