The Foundation grants a new loan to the Komida MFI

© 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.