The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based investor in microfinance institutions (MFIs), recently announced the disbursement of the first tranche of a 30-month, USD 220,000 loan to Programme D’Appui aux Initiatives de Developpement Economique du Kivu (PAIDEK), a microfinance institution (MFI) that lends to microenterprises in the region of Kivu, Democratic Republic of Congo. Similarly, GCAMF disbursed the first tranche of a 30-month, EUR 153,000 (USD 210,000) loan to Coopérative d’Epargne et de Crédit des Soutien aux Initiatives de Femmes pour l’Autopromotion (COOPEC SIFA), a Togo-based organization created to institutionalize a project implemented by the Mouvement des Jeunes et Adultes Ruraux et Catholiques (JARC) to provide small loans to poor women living in Togo [1]. The two loans are funded by the EUR 14 million (USD 19.3 million) “Take-off facility for Microfinance in Africa,” a three-year project developed by GCAMF through a partnership with the French government’s Agence Française de Développement (AFD) intended to support MFIs in Sub-Saharan Africa through loans and technical assistance.
As of December 31, 2012, PAIDEK had total assets worth USD 3.3 million, a gross loan portfolio of USD 2.2 million, a return on asset ratio (ROA) of 1.14 percent, and approximately 10,300 active borrowers. COOPEC SIFA does not report to the US-based nonprofit Microfinance Information Exchange (MIX), and financial information on the MFI is otherwise not available. As of December 2012, GCAMF reported total assets of EUR 51.1 million (USD 70.3 million). As of December 31, 2013, the foundation had invested in 31 microfinance institutions (MFIs), 10 social-business projects and one fund in 21 countries since its inception in 2008.
By Chikondano Faith Chisala, Research Associate
About Programme D’Appui aux Initiatives de Developpement Economique du Kivu (PAIDEK): Programme D’Appui aux Initiatives de Developpement Economique du Kivu (PAIDEK) is a microfinance institution that was established in 1996 in the Democratic Republic of Congo with the aim of providing microloans to microenterprises in the Kivu region of the country. As of December 31, 2012, PAIDEK had total assets worth USD 3.3 million, a gross loan portfolio of USD 2.2 million, a return on asset ratio (ROA) of 1.14 percent, and approximately 10,300 active borrowers.
About Coopérative d’Epargne et de Crédit des Soutien aux Initiatives de Femmes pour l’Autopromotion (COOPEC SIFA): Coopérative d’Epargne et de Crédit des Soutien aux Initiatives de Femmes pour l’Autopromotion (COOPEC SIFA) is an institution that focuses on providing small loans to women in Togo. COOPEC SIFA does not report to the US-based nonprofit Microfinance Information Exchange (MIX), and financial information on the organization is not otherwise unavailable.
About Grameen Credit Agricole Microfinance Foundation (GCAMF): The Grameen Credit Agricole Microfinance Foundation (GCAMF) was founded in Luxembourg in 2008 by Crédit Agricole SA, a French retail bank, and Grameen Trust, a nonprofit microfinance organization affiliated with Grameen Bank of Bangladesh. GCAMF offers financing products to microfinance institutions (MFIs), focusing on MFIs that prioritize rural development, transparency, consumer protection and serving women. As of December 2012, GCAMF reported total assets of EUR 51.1 million (USD 70.3 million). As of December 31, 2013, the foundation has invested in 31 microfinance institutions (MFIs), 10 social-business projects and one fund in 21 countries since its inception in 2008.
About Agence Française de Développement (AFD): Agence Française de Développement (AFD) is a bilateral development finance institution that was founded in 1941 and is responsible for disbursing development assistance to underdeveloped countries. In 2013, AFD had a budget of EUR 8 billion (USD 11 billion) for commitments in approximately 60 countries. As of June 30, 2013, AFD had total assets of EUR 24.7 billion (USD 33.9 billion).
Sources and Additional Resources
[1] Grameen Credit Agricole Microfinance Foundation, News, “The Foundation Funds COOPEC SIFA (Togo) Within The Framework Of The Take-Off Facility For Microfinance In Africa,” http://www.grameen-credit-agricole.org/en/content/foundation-funds-coopec-sifa-togo-within-framework-take-facility-microfinance-africa
Grameen Credit Agricole Microfinance Foundation, News, “The Foundation Invests Once Again in Democratic Republic of Congo,” http://www.grameen-credit-agricole.org/en/content/foundation-invests-once-again-démocratic-republic-congo
MicroCapital Article, December 15, 2013, “Grameen Credit Agricole Microfinance Foundation (GCAMF) Disburses $157k of $315k in Loans to Association Inter Instituts Ensemble et Avec (ASIENA) in Burkina Faso, “https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-disburses-157k-of-315k-in-loans-to-association-inter-instituts-ensemble-et-avec-asiena-in-burkina-faso/
MicroCapital Article, November 5, 2013, “Grameen Credit Agricole Microfinance Foundation (GCAMF) Disburses $515k of $872k in Loans to Mec Fadec of Senegal, Réseau National des Caisses Villageoises d’Épargne et de Crédit Autogérées (RENACA) of Benin,”https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-disburses-515k-of-872k-in-loans-to-mec-fadec-of-senegal-reseau-national-des-caisses-villageoises-depargne-et-de-credit/
MicroCapital Article, May 23, 2013, “Grameen Credit Agricole Microfinance Foundation (GCAMF) Disburses Tranches of $1.8m in Loans to African Microfinance Institutions GRAINE of Burkina Faso, CAURIE of Senegal,” https://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-gcamf-disburses-tranches-of-1-8m-in-loans-to-african-microfinance-institutions-graine-of-burkina-faso-caurie-of-senegal/
MicroCapital Article, March 15, 2013, “Agence Francaise de Developpement (AFD) to Guarantee Grameen Credit Agricole Microfinance Foundation (GCAMF) Loans, Largely in Sub-Saharan Africa,” https://www.microcapital.org/microcapital-brief-agence-francaise-de-developpement-afd-to-guarantee-grameen-credit-agricole-microfinance-foundation-gcamf-loans-largely-in-sub-saharan-africa/
MicroCapital Universe Profile, PAIDEK (Programme D’Appui aux Initiatives de Developpement Economique du Kivu), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Programme+D%27Appui+aux+Initiatives+de+Developpement+Economique+du+Kivu%29
MicroCapital Universe Profile, Coopérative d’Epargne et de Crédit des Soutien aux Initiatives de Femmes pour l’Autopromotion (COOPEC SIFA), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Coop%C3%A9rative+d%E2%80%99Epargne+et+de+Cr%C3%A9dit+des+%C2%A0Soutien+aux+Initiatives+de+Femmes+pour+l%27Autopromotion
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, French Development Agency, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=French+Development+Agency
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