The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently informed MicroCapital that it has lent the equivalent of EUR 2.5 million (USD 2.8 million) in local currency to AMK Microfinance Institution, which was founded in Cambodia in 2003 under the name Angkor Mikroheranhvatho Kampuchea. AMK offers loans, deposits, microinsurance, money transfer, foreign exchange and automated teller machine services. The institution received its deposit-taking license in 2010.
As of December 2018, AMK reports a loan portfolio of USD 253 million and deposits of USD 159 million. It has 2,800 employees serving approximately 800,000 customers via 36 branches and 114 sub-branches.
GCA Foundation was founded in 2008 by Credit Agricole SA, a French retail bank, in partnership with Bangladeshi NGO Grameen Trust and its founder, Muhammad Yunus. The foundation provides funding and technical assistance to micro-finance institutions and other social businesses with the aim of creating a “better-shared economy.” As of January 2019, GCA Foundation has commitments of approximately EUR 82 million (USD 92 million) outstanding to 79 partners in 35 countries in Africa and Eurasia. Its partners serve approximately 3.9 million customers, of whom 75 percent are women and 79 percent live in rural areas.
By Anuhya Tadepalli, Research Associate
Sources and Additional Resources
Direct contact with the Grameen Credit Agricole Foundation
AMK homepage
https://www.amkcambodia.com
MIX profile on AMK
https://www.themix.org/mixmarket/profiles/amk
GCA Foundation homepage
http://gca-foundation.org/
GCA Foundation 2017 Annual Report
http://gca-foundation.org/data/grameen/publications-gca/rapport-annuel/2017-Annual Report-ENG.pdf
SPECIAL REPORT: Responsible Investment Requires Responsible Exits – Applying a Fitness and Compatibility Review Matrix to Choose an Equity Buyer for AMK Cambodia
https://www.microcapital.org/special-report-responsible-investment-requires-responsible-exits-applying-a-fitness-and-compatibility-review-matrix-to-choose-an-equity-buyer-for-amk-cambodia/
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at
https://www.microcapital.org/products-page/.
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