Bereke Microfinance Organization, which is located in Kazakhstan, has received a loan in local currency approximately equivalent to USD 680,000 from the Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, to expand its loan portfolio. Bereke seeks to increase its clients’ standard of living by lending for microenterprise, small enterprise, agriculture, housing and consumption. The institution was founded in 2003 to serve the northern, eastern and central regions of Kazakhstan. As of 2017, Bereke reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 5.3 million and a gross loan portfolio of USD 4.8 million. As of 2019, it serves 5,200 borrowers, 76 percent of whom are women. The institution does not accept deposits.
GCA Foundation was launched in 2008 by the directors of Credit Agricole, a French retail bank, and Muhammad Yunus, the founder of the Grameen Bank of Bangladesh. The foundation provides funding and technical assistance with the aim of promoting financial inclusion and social entrepreneurship. As of January 2019, GCA Foundation has commitments of approximately EUR 82 million (USD 92 million) outstanding to 79 partners in 35 countries in Africa and Eurasia. Its partners serve approximately 3.9 million customers, of whom 75 percent are women and 80 percent live in rural areas.
By Anuhya Tadepalli, Research Associate
Sources and Additional Resources
Direct contact with the Grameen Credit Agricole Foundation
Bereke Microfinance Organization LLP home page
http://bereke.kz/
Triple Jump profile on Bereke
https://triplejump.eu/company/bereke-2/
MIX profile on Bereke
https://www.themix.org/mixmarket/profiles/bereke
Grameen Credit Agricole Foundation homepage
http://gca-foundation.org/
Grameen Credit Agricole Foundation 2017 Annual Report
http://gca-foundation.org/data/grameen/publications-gca/rapport-annuel/2017-Annual-Report-ENG.pdf
MICROCAPITAL BRIEF: KMF and Bereke of Kazakhstan, Vasham of Indonesia Borrow $5.1m from Grameen Credit Agricole Microfinance Foundation
https://www.microcapital.org/microcapital-brief-kmf-bereke-kazakhstan-vasham-indonesia-borrow-4-4m-grameen-credit-agricole-microfinance-foundation/
Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
Similar Posts:
- MICROCAPITAL BRIEF: Arnur Credit of Kazakhstan Borrows $3.3m from Grameen Crédit Agricole to Expand Access to Microfinance
- MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Loans $3.2m to Faten for Microfinance in Palestine
- MICROCAPITAL BRIEF: Mi-Bospo of Bosnia and Herzegovina Borrowing $2.2m from Grameen Credit Agricole Foundation for Microfinance Lending
- MICROCAPITAL BRIEF: Oxus Kyrgyzstan Borrowing $1.6m from Grameen Credit Agricole Foundation for Microfinance Lending
- MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Loans $760k to Microfinance Institution Oxus Tajikistan
