The Luxembourg-based Grameen Credit Agricole Foundation (GCAF) recently informed MicroCapital that it has disbursed three-year loans denominated in local-currency to two microfinance institutions in Indonesia. Koperasi Mitra Dhuafa (Komida), a cooperative providing savings, loans and training services to women, borrowed the equivalent of USD 2.6 million. Komida, which is based in Jakarta, reports IDR 863 billion (USD 65 million) in customer savings, IDR 652 billion (USD 49 million) in outstanding loans, 450,000 customers and 190 branches. This the institution’s fourth loan from GCAF, with which it has partnered since 2014.
The KSP unit of the Tanaoba Lais Manekat (TLM) Foundation borrowed the equivalent of USD 1 million from GCAF. KSP TLM is a cooperative that provides group loans to 70,000 women involved in “farming, livestock…home industry and small trad[ing].” It has a loan portfolio of IDR 74 billion (USD 5.5 million) and 33 branches. TLM is a Christian group that was founded in 1995 and operates in the province of East Nusa Tenggara. Its programs include education services, advocacy for people with disabilities, water infrastructure improvement, a for-profit bank and a cooperative that sells consumer goods.
GCAF was founded in 2008 by Credit Agricole SA, a French retail bank, and Grameen Trust, a nonprofit microfinance organization affiliated with the Grameen Bank of Bangladesh. GCAF focuses on supporting organizations that prioritize rural development, transparency, consumer protection and serving women. As of December 2017, GCAF had outstanding loans of EUR 62 million (USD 76 million) and experience with 69 partners in 28 countries in Africa and Eurasia.
Sources and Additional Resources
Direct contact with the Grameen Credit Agricole Foundation
Komida Project Statement, November 2017
TLM’s microfinance services
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