The Grameen Credit Agricole Microfinance Foundation (GCAMF), which was founded in Luxembourg by French bank Credit Agricole and Grameen Trust of Bangladesh, has reported to MicroCapital that it has issued its first loan in Burkina Faso to Groupe d’Accompagnement à l’Investissement et à l’Epargne (GRAINE), a microfinance institution (MFI) that serves 40,000 women primarily in remote areas. GRAINE reports a gross loan portfolio equivalent to USD 3.5 million. The loan of XOF 250 million (USD 467k) will be disbursed with a one-year grace period in 3 tranches, each of which has a term ranging from three months to two years.
GCAMF also issued a loan of KHR 5 billion (USD 1.2 million) with a 3-year maturity and one-year grace period to Angkor Mikroheranhvatho Kampuchea (AMK), its fourth partner MFI in Cambodia. In 2011, AMK reported total assets of USD 68.4 million, a gross loan portfolio of USD 47.7 million and 275,739 active borrowers.
GCAMF issued its first loan in Sri Lanka to LOLC Micro Credit Limited (LOMC), the microfinance arm of Lanka ORIX Leasing Company (LOLC), in the amount of EUR 2 million (USD 2.5 million) with a 4-year term and one-year grace period. LOMC provides individual and group loans to its 103,850 clients, who reside mainly in rural areas. . LOMC started offering microfinancial services in 2003. In 2011, LOMC had a lending portfolio of over USD 140 million.
As of December 31, 2011, GCAMF reports 45 investment projects in 19 countries that support 30 microfinance institutions (MFIs), four social-business projects and one fund that covers foreign-exchange risk.
By Mihaela Grindeanu, Research Associate
About Grameen Credit Agricole Microfinance Foundation (GCAMF): The Grameen Crédit Agricole Microfinance Foundation (GCAMF) was founded in 2008 with an endowment of EUR 50 million (approximately USD 64 million) provided by Crédit Agricole SA, a French retail bank, and Grameen Trust (GT), a nonprofit microfinance organization affiliated with Grameen Bank of Bangladesh. GCAMF offers a range of financing products to microfinance institutions (MFIs), focusing on MFIs that prioritize rural development transparency, consumer protection and serving women.
About Angkor Mikroheranhvatho Kampuchea (AMK): Angkor Mikroheranhvatho Kampuchea (AMK) is a microfinance institution (MFI) located in Cambodia. It was originally founded in 1999 by Concern Worldwide, a charitable organization located in Ireland. It became an independent company in 2003 and was licensed as an MFI in 2004. It offers loans and was granted a deposit-taking license in February of 2010. In 2011, it reported to US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 68.4 million, a gross loan portfolio of USD 47.7 million, and 275,739 active borrowers.
About Groupe d’Accompagnement à l’Investissement et à l’Epargne (GRAINE): GRAINE is a microfinance institution (MFI) located in Burkina Faso. It was created in August 2006 by Ocades Caritas Burkina and the Catholic Relief Services, a charity group based in the US. It offers microfinancial services to 41,798 active clients, all women from rural areas.
About LOLC Micro Credit Limited (LOMC): LOLC Micro Credit Limited (LOMC) provides individual and group loans for microentrepreneurs in Sri Lanka’s agricultural districts. Founded in 2009, LOMC is the microfinance arm of Lanka ORIX Leasing Company (LOLC), a Sri Lankan financial services provider started in 1980 by the International Finance Corporation, the Sri Lankan government and the Orient Leasing Company of Japan. It started offering microfinancial services in 2003. In 2011, LOMC had a lending portfolio of over USD 140 million.
Sources and Additional Resources:
Data provided to MicroCapital.org from Grameen Credit Agricole Microfinance Foundation
MicroCapital.org story, March 16, 2012: “MICROCAPITAL BRIEF: responsAbility Lends $1.8m to Cambodian Microfinance Companies Angkor Mikroheranhvatho Kampuchea, Thaneakea Phum (Cambodia) Limited”, https://www.microcapital.org/microcapital-brief-responsability-lends-1-8m-to-cambodian-microfinance-companies-angkor-mikroheranhvatho-kampuchea-thaneakea-phum-cambodia-limited/
MicroCapital.org story, April 27, 2012: “MICROFINANCE BRIEF: Grameen Credit Agricole Microfinance Foundation (GCAMF) Issues $1.25m Loan to Hattha Kaksekar Limited of Cambodia, $800k to Alide of Benin”, https://www.microcapital.org/microfinance-brief-grameen-credit-agricole-microfinance-foundation-gcamf-issues-1-25m-loan-to-hattha-kaksekar-limited-of-cambodia-800k-to-alide-of-benin/
MicroCapital.org story, April 13, 2011: ”MICROCAPITAL BRIEF: BlueOrchard Loans $3m to Microfinance Institutions (MFIs) AccessBank of Tajikistan, LOLC Micro Credit Limited (LOMC) of Sri Lanka”, https://www.microcapital.org/microcapital-brief-blueorchard-loans-3m-to-microfinance-institutions-mfis-accessbank-of-tajikistan-lolc-micro-credit-limited-lomc-of-sri-lanka/
MicroCapital Universe Profile: Grameen Credit Agricole Microfinance Foundation (GCAMF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Credit+Agricole+Microfinance+Foundation
MicroCapital Universe Profile: Angkor Mikroheranhvatho Kampuchea (AMK), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Angkor+Mikroheranhvatho+Kampuchea+%28AMK%29
MicroCapital Universe Profile: LOLC Micro Credit Limited (LOMC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=LOLC+Micro+Credit+Ltd.+%28LOMC%29
MicroCapital Universe Profile: GRAINE, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Groupe+d%27Accompagnement+à+l%27Investissement+et+à+l%27Epargne+%28GRAINE%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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