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 54-month loan of EUR 1.04 million (USD 1.43 million) to Arvand, a financial institution that provides microcredit to low-income individuals in Tajikistan. Additionally, GCAMF disbursed the first tranche of a 36-month loan of EUR 608,000 (USD 833,000) to Bina Artha Ventura Limited (BAV), an Indonesia-based MFI that facilitates access to finance for women involved in micro- and small enterprises (MSEs) on the indonesian island of Java [1]. Similarly, GCAMF extended the first tranche of 36-month loan of EUR 1.58 million (USD 2.17 million) to Thaneakea Phum (Cambodia) Limited (TPC), a Cambodia-based MFI that aims to help rural MSEs access financial services.
The US-based nonprofit Microfinance Information Exchange (MIX) reported that Arvand had total assets of USD 11.5 million and a gross loan portfolio of USD 8.5 million as of June 30, 2013. MIX also reported that BAV had total assets of USD 4 million and a gross loan portfolio of USD 2 million as of December 31, 2012. As of December 31, 2013, TPC reported to MIX total assets of USD 94.7 million and a gross loan portfolio of USD 74.7 million. As of December 2012, GCAMF reported total assets of EUR 51.1 million (USD 70.3 million).
By Chikondano Faith Chisala, Research Associate
About Arvand: Arvand is a microfinance institution that was established in Tajikistan in 2002 by ACDI/VOCA (Agricultural Cooperative Development International/ Volunteers in Overseas Cooperative Assistance), a US-based nonprofit that promotes economic opportunity through cooperatives, enterprises and communities. Arvand was set up to provide microcredit to low-income individuals in urban areas. In addition to microcredit, Arvand provides deposit and microleasing services. As of December 2012, Arvand reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 25 million, a gross loan portfolio of USD 20.7 million, approximately 2,500 depositors with19,400 active borrowers ,return on assets (ROA) of 4.49 percent and return on equity (ROE) of 29.7 percent.
About Bina Artha Ventura Limited: Established in Indonesia in 2011, Bina Artha Ventura Limited is a microfinance institution that aims to improve access to finance for women in low-income households who are engaged in micro- and small enterprises. Bina Artha Ventura provides services through a network of approximately 60 branches. As of December 31, 2012, Bina Artha Ventura reported to the US-based nonprofit data provider Microfinance Information Exchange (MIX) total assets of USD 4 million, a gross loan portfolio of USD 2.04 million, return on assets (ROA) of -40.8 percent, return on equity (ROE) of -46.8 percent, and approximately 21,400 active borrowers. Bina Artha Ventura does not accept deposits.
About Thaneakea Phum (Cambodia) Limited : Thaneakea Phum (Cambodia) Limited was launched in 1994 in Cambodia as part of the Small Enterprise Development program of US-based nonprofit Catholic Relief Services. In 2002, the initiative was incorporated as a limited liability company and given the name Thaneakea Phum Limited. In 2003, Thaneakea Phum received its license from the National Bank of Cambodia to operate as an official microfinance institution. According to the US-based nonprofit Microfinance Information Exchange (MIX), Thaneakea Phum reported total assets of USD 94.7 million, a gross loan portfolio of USD 74.7 million and approximately 154,000 active borrowers as of December 31, 2013. Thaneakea Phum reported return on equity (ROE) of 24 percent and return on assets (ROA) of 4.08 percent as of December 31, 2012. Thaneakea Phum does not accept deposits.
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.
Sources and Additional Resources
[1] Grameen Credit Agricole Micro finance Foundation (GCAMF), News, “The Foundation Makes Two New Investments In Asia,” http://www.grameen-credit-agricole.org/en/content/foundation-makes-two-new-investments-asia
[2] Grameen Credit Agricole Micro finance Foundation (GCAMF), News, “The Foundation Invests Once Again In Tajikistan,” http://www.grameen-credit- gricole.org/en/content/foundation-invests-once-again-tajikistan
MicroCapital, 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, 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, November 4, 2012, “Absolute Portfolio Management Dual Return Fund Loans $2.5m to KazMicroFinance of Kazakhstan, Imon International of Tajikistan, Frontiers of Kyrgyzstan, Thaneakea Phum of Cambodia,” https://www.microcapital.org/microcapital-brief-absolute-portfolio-management-dual-return-fund-loans-2-5m-to-kazmicrofinance-of-kazakhstan-imon-international-of-tajikistan-frontiers-of-kyrgyzstan-thaneakea-phum-of-cambodia/
MicroCapital, March 5, 2012, “European Union Funds International Finance Corporation (IFC) to Support Microfinance Institution Arvand’s Agricultural Loans in Tajikistan,” https://www.microcapital.org/microcapital-brief-european-union-funds-international-finance-corporation-ifc-to-support-microfinance-institution-arvands-agricultural-loans-in-tajikistan/
MicroCapital Universe Profile: Arvand, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Arvand
MicroCapital Universe Profile: Bina Artha Ventura Limited, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bina+Artha+Ventura+Limited
MicroCapital Universe Profile: Thaneakea Phum (Cambodia) Ltd, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Thaneakea+Phum+%28Cambodia%29+Limited
MicroCapital Universe Profile, Grameen Credit Agricole Microfinance Foundation (GCAMF),
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Credit+Agricole+Microfinance+Foundation
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