27 September 2022

During the first half of 2022, the Foundation granted two new loans in Central and South Asia, bringing to 11 the number of financings carried out at the end of July.

A new loan in dollars equivalent to €2 million has been granted to the microfinance institution Asian Credit Fund (ACF) in Kazakhstan. A long-time partner of the Foundation, ACF is an institution created in 1997 by the American NGO Mercy Corps and whose mission is to help improve the quality of life of households through financial and development products and services. ACF’s financial services are designed to promote rural household development, small business growth and home ownership. The institution adheres to a specialist community lending model that offers tailored financial solutions, business advice and technical assistance to its clients. At the end of June 2022, ACF had 33,856 active borrowers, 66% of whom are women and 92% of of whom are clients living in rural areas.

Similarly, the Foundation granted a loan in local currency equivalent to €1.3 million  to the Indonesian microfinance institution Coop TLM, an institution created in 2010 by the TLM Foundation. Coop TLM’s mission is to provide the poor, micro and small businesses in Indonesia with the means to improve their standard of living. The institution grants loans according to the group methodology. At the end of March 2022, Coop TLM had 145,997 active borrowers, 99.97% of whom were women and 93% of whom were living in rural areas, and managed a portfolio of €18.7 million. It operates in East Nusa Tenggara (NTT), West Nusa Tenggara (NTB), Central and West Sulawesi and Bali through a network of 41 branches and 612 employees.

Discover the partners supported by the Foundation by clicking here.