The Microfinance Center (MFC) for Central and Eastern Europe and the New Independent States, an international microfinance network based in Poland, and the Joint Stock Company Fund for Financial Support of Agriculture (FFSA), a financial services organization headquartered in Kazakhstan, recently launched the Center for Assistance to Microcredit Organizations (CAMCO) to provide technical assistance to small microfinance institutions (MFIs) in rural and urban Kazakhstan. Elnura Mametova, MFC’s Manager for Central Asia, expressed that CAMCO “will enable MFC to further decentralize and develop capacity of local organizations working on improving financial access”.
The MFC network is comprised of approximately 110 microfinance institutions. In 2009, FFSA reported the nonprofit, US-based data provider Microfinance Information Exchange (MIX), total assets of USD 73.1 million, a gross loan portfolio of USD 64.1 million, approximately 19,000 borrowers, return on assets of (ROA) -3.06 percent and return on equity (ROE) of -3.89 percent.
By Jacqueline Foelster, Research Associate
About Center for Assistance to Microcredit Organizations (CAMCO): CAMCO was launched in 2011 to provide technical support to microfinance institutions in Kazakhstan. It was created as a collaboration between the Microfinance Center (MFC) for Central and Eastern Europe and the New Independent States, an international microfinance network based in Poland, and the Joint Stock Company Fund for Financial Support of Agriculture, a specialized financial and credit organization headquartered in Kazakhstan. Financial information on CAMCO is not available.
About Microfinance Center (MFC) for Central and Eastern Europe and the New Independent States: Based in Poland, the Microfinance Center (MFC) for Central and Eastern Europe and the New Independent States is an international network of approximately 110 microfinance institutions (MFIs) that aims to promote a socially oriented and sustainable microfinance sector. Its services include knowledge management, policy advocacy, research and development and assistance with technical services for the microfinance community.
About Joint Stock Company Fund for Financial Support of Agriculture (FFSA): Established in 1998 as the State Fund for Financial Support of Agriculture, the Joint Stock Company Fund for Financial Support of Agriculture (FFSA) provides insurance and other financial services in rural areas of Kazakhstan. In 2007, FFSA became an affiliated company of Joint Stock Company National Holding “KazAgro” and now provides microcredit services to rural households and financial support to microcredit organizations. In 2009, FFSA reported the nonprofit, US-based data provider Microfinance Information Exchange (MIX), total assets of USD 73.1 million, a gross loan portfolio of USD 64.1 million, approximately 19,000 borrowers, return on assets of (ROA) -3.06 percent and return on equity (ROE) of -3.89 percent.
Sources and resources:
[1] Microfinance Center, “MFC engages in a new public-private initiative to support microfinance in Kazakhstan”, http://www.microfinancegateway.org/gm/document-1.9.50142/CAMCO_press_release.pdf
MicroCapital.org Article, February 24, 2011, “Microfinance Center (MFC) for Central and Eastern Europe and the New Independent States Announces Launch of Social Performance Start-Up Fund”, https://www.microcapital.org/microcapital-brief-microfinance-center-mfc-for-central-and-eastern-europe-and-the-new-independent-states-announces-launch-of-social-performance-start-up-fund/
MicroCapital Microfinance Universe Profile: Center for Assistance to Microcredit Organizations (CAMCO), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Center+for+Assistance+to+Microcredit+Organizations+%28CAMCO%29
MicroCapital Microfinance Universe Profile: Microfinance Center (MFC) for Central and Eastern Europe and the New Independent States, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microfinance+Centre+for+Central+and+Eastern+Europe+and+the+New+Independent+States
MicroCapital Microfinance 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
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