The Foundation grants a new loan to the Komida MFI

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© Didier Gentilhomme

The Grameen Crédit Agricole Foundation has just granted a new loan to the Indonesian microfinance institution Komida, amounting to 2.1 million eruos over a period of three years. This loan is the fourth granted by the Foundation to Komida, a partner since 2011.

With this new investment, the Foundation's commitments to Komida as of the end of December 2017 totaled €3 million, representing 681,000 million of the Foundation's commitments in Indonesia, where it currently has three partners. Komida is a microfinance NGO that began offering microcredit in 2005 to the tsunami-affected population in Banda Aceh province. The institution targets women exclusively, following the Grameen Bank model.

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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator, and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.

Ivory Coast: Microfinance sector experiencing strong growth

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©Philippe Lissac / Godong

In Ivory Coast, deposits in microfinance institutions (MFIs) increased by 3,47% in 5 years, rising from 72 billion in 2012 to 250 billion FCFA at the end of September 2017, according to figures from the Ministry of Economy and Finance.

This development was accompanied by a growth in outstanding credit over the period, which stood at 250 billion FCFA compared to 57 billion in 2012, reflecting the revival of the sector, which had suffered the repercussions of the decade of crisis that the country experienced between 2002 and 2010. These figures support the results of a study by the Oxford Business Group (OBG) firm, which indicated last June that the MFI client base had more than doubled between 2014 and 2016 to reach 1.17 million accounts with deposits of around 210 billion (end of 2016), an increase of 66.5% over the period.

The microfinance sector is therefore experiencing renewed dynamism in line with the Ivorian economic upturn of recent years. […] With a banking penetration rate of 34% including MFIs, the scope for microfinance development remains significant compared to the levels of 40% in Ghana and 75% reached in Kenya, according to OBG. At the end of March 2017, there were 53 microfinance institutions in Côte d'Ivoire.

The Foundation funds a new partner in Indonesia

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The Grameen Crédit Agricole Foundation has granted an initial loan in Indonesian rupiah equivalent to 840,000 euros, over a period of three years, to the microfinance institution KSP TLM.

KSP TLM is a microfinance institution established in 2011 by the TLM Foundation to support local communities through business development initiatives and related services in the province of Nusa Tenggara Timur. KSP TLM offers community loans to support income-generating activities. The loans are primarily intended for women entrepreneurs, primarily in rural areas. KSP TLM also offers savings products and training programs.

With this new investment, the Foundation now has three partners in this country, which, as of the end of December 2017, represents 21% of the Foundation's microfinance commitments in the South and Southeast Asia region.

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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator, and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.

The Foundation makes its first investment in Montenegro

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The Grameen Crédit Agricole Foundation has made its first investment in Montenegro by granting a €500,000 loan over a three-year period to the microfinance institution Monte Credit, which belongs to Agroinvest Holding, a subsidiary of Vision Fund International.

Monte Credit Montenegro's target clients are poor households, those engaged in small business activities, microenterprises in the areas of trade, agricultural production/processing/sales, and small and medium-sized tourism-oriented businesses. Monte Credit primarily offers its clients agricultural loans and loans for business activities, using the individual lending methodology.

With this new loan, the Foundation now has 14 partners in the Eastern Europe and Central Asia region, representing 25% of its microfinance partners, for a total amount of commitments at the end of 2017 of 16 million euros in the region.

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Created in 2008, under the joint leadership of Crédit Agricole SA's management and Professor Yunus, 2006 Nobel Peace Prize winner and founder of Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-sector operator that contributes to the fight against poverty through financial inclusion and social impact entrepreneurship. As an investor, lender, technical assistance coordinator, and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.

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