The Foundation continues to support its partners in Asia

© Didier Gentilhomme / GCA Foundation

During the first quarter of 2021, the Grameen Crédit Agricole Foundation completed three new financings in Asia, notably in Indonesia.

In Indonesia, the Foundation has granted a new loan to the microfinance institution KOMIDA for an amount in local currency equivalent to 2.2 million euros. KOMIDA is a microfinance institution established in 2004 as a foundation to offer financial assistance in the form of savings and loan services as well as non-financial services such as training in health and family financial management. The institution, which is aimed exclusively at women, currently has nearly 720,000 clients.

Also in Indonesia, the Foundation granted a new loan to the microfinance institution MBK for an amount in local currency equivalent to 5 million euros. "Mitra Bisnis Keluarga" (MBK) is a microfinance institution regulated by the Indonesian Financial Services Authority (FSA) and licensed as a non-bank financing company. Using the Grameen Bank methodology, MBK provides working capital to low-income women in Java to give them access to formal and profitable financial services (financial inclusion), reduce their vulnerability and improve their lives. To date, the institution has more than 1 million clients, exclusively women, who live 75% below the poverty line.

In Myanmar, the Foundation has granted a new loan to the institution Proximity Finance for an amount in local currency equivalent to 1.4 million euros. Proximity is an institution established in 2010 that designs and offers affordable, income-generating financial products for rural families. The institution strives to improve the livelihoods of rural Myanmar by providing innovative financial services tailored to their needs and uses business dynamism to create social value. To date, Proximity has nearly 200,000 clients, including 69% women and 98% rural clients.

To date, the Grameen Crédit Agricole Foundation has 89 partners in 37 countries and manages a portfolio of 86 million euros, including 46% in so-called fragile countries.

To learn more, Click here.