Foundation grants new loans in Central and South Asia

During the first half of 2022, the Foundation granted two new loans in Central Asia and South Asia, bringing the number of financings made to 11 as of the end of July.

A new dollar loan equivalent to 2 million euros has been granted to the microfinance institution Asian Credit Fund (ACF) in Kazakhstan. A long-standing partner of the Foundation, ACF is an institution established in 1997 by the American NGO Mercy Corps, whose mission is to help improve the quality of life of households through financial and development products and services. ACF's financial services are designed to promote rural household development, small business growth, and homeownership. The institution adheres to a specialized community lending model that offers tailored financial solutions, business advice, and technical assistance to its clients. As of the end of June 2022, ACF had 33,856 active borrowers, including 66% women and 92% clients living in rural areas.

Similarly, the Foundation granted a loan in local currency equivalent to 1.3 million euros to the Indonesian microfinance institution Coop TLM, an institution established in 2010 by the TLM Foundation. Coop TLM's mission is to provide poor Indonesian micro and small businesses with the means to improve their standard of living. The institution provides loans using the group methodology. As of the end of March 2022, Coop TLM had 145,997 active borrowers, including 99,971 women and 931 rural borrowers, and managed a portfolio of €18.7 million. It operates in East Nusa Tenggara (NTT), West Nusa Tenggara (NTB), Central and West Sulawesi, and Bali through a network of 41 branches and 612 employees.

Discover the partners supported by the Foundation by clicking here.