Four new investments in Asia for the Foundation

© Philippe Lissac

In partnership with CA CIB India, the Foundation provided a guarantee equivalent to €5 million to the Indian microfinance institution Annapurna, for a loan granted by CA CIB India in local currency. Annapurna Finance Pvt. Ltd (AFPL) was established in 2009 and is now one of the country's top ten NBFC MFIs. The institution provides financial services to low-income populations. Its main objectives are to provide financial assistance for economic empowerment and to prioritize women and directly involve them in productive activities through self-help groups and access to finance. To date, the institution serves 1.6 million active borrowers, including 991,300 women and 851,300 rural borrowers.

Similarly, in Myanmar, the Foundation granted a new loan in local currency equivalent to €2.3 million over a four-year period to VisionFund Myanmar, a microfinance institution that lends small amounts of money to individuals who lack a measurable credit history, assets to secure loans, or access to traditional sources of financing. To date, VisionFund Myanmar has more than 190,000 clients, including 86% women and 59% clients in rural areas.

Also in Myanmar, the Foundation also granted a new loan in local currency equivalent to €1.8 million over a four-year period to the microfinance institution Proximity Designs on behalf of Proximity Finance, a microfinance program whose objective is to eradicate extreme poverty by treating the poor as clients. To date, the program has 117,000 clients, including 69% women.

Finally, in Cambodia, the Foundation granted a loan equivalent to €1.6 million to Chamroeun, a long-standing partner of the Foundation since 2010. Chamroeun is a microfinance institution that provides financial services to the poorest, excluded from the services offered by more commercial microfinance institutions. The institution serves more than 30,000 clients, including 821,000 women.

More information about the Foundation's partners here.