The Luxembourg-based Grameen Crédit Agricole (GCA) Foundation has reported disbursing a local-currency loan approximately equivalent to USD 1.3 million to Coop TLM, a nonprofit microfinance institution in Indonesia. Established in 2010 by the Tanaoba Lais Manekat (TLM) Foundation and headquartered in the city of Kota Kupang, Coop TLM seeks to support low-income people and small enterprises via access to training, group loans and savings services. The cooperative operates 43 branches in five provinces and reports total assets of IDR 402 billion (USD 26 million) as of September 2022. The institution serves approximately 310,000 depositors and 155,000 borrowers, nearly all of whom are women living in rural areas.
TLM Foundation was established by the Evangelical Protestant Church of Timor in 1995. In addition to Coop TLM, the foundation operates a for-profit bank and a cooperative selling fast-moving consumer goods. Its services range from boosting access to water and agricultural support to emergency response and services for people with disabilities.
Crédit Agricole, a French retail bank, in partnership with Muhammad Yunus, the founder of Grameen Bank of Bangladesh, established GCA Foundation in 2008. The organization seeks to reduce poverty by providing funding and technical assistance to microfinance institutions and other social businesses. As of 2022, it manages assets valued at EUR 89 million (USD 89 million) outstanding to 75 partners in 36 countries in Africa and Eurasia. These partners’ beneficiaries are mainly women living in rural areas.
Crédit Agricole was established in 1885 to provide agricultural loans in France. As of December 2021, it serves 53 million people in 47 countries. It values its assets under management at EUR 2.6 trillion (USD 2.6 trillion) as of March 2022.
By Renata Samadova, Research Associate
Sources and Additional Resources
GCA Foundation press release
https://www.gca-foundation.org/en/media-room/#the-foundation-grants-new-loans-in-central-and-south-asia
Coop TLM homepage
https://www.cooptlmindonesia.com
TLM Foundation homepage
http://tlmfoundation.or.id
GCA Foundation profile on Coop TLM
https://www.gca-foundation.org/en/organisation/ksp-tlm-2/
Previous MicroCapital article on GCA Foundation
https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-foundation-loans-1-9m-to-acf-for-microfinance-in-kazakhstan/
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