During the first half of 2022, the Grameen Crédit Agricole Foundation granted 3 new financings in Asia. To date, the Foundation manages a portfolio of € 89 million, 30% of which in South and South East Asia.
In Cambodia, the Foundation granted a new loan to Chamroeun for an amount equivalent to €3 million. Chamroeun is a Cambodian microfinance institution that puts social vocation at the heart of its economic model. It provides financial services to the poorest, excluded from the offer of more commercial microfinance institutions. In order to maximize the impact of credit and effectively help very poor families, in addition to the financial component, Chamroeun also offers a range of training and economic, social and personal support services. To date, the institution serves over 45,000 clients, 80% of whom are women.
In Indonesia, the Foundation granted a new loan to the KOMIDA for an amount in local currency equivalent to €3 million. KOMIDA is a microfinance institution created in 2004 as a foundation. Its mission is to provide financial assistance in the form of savings and loan services, non-financial services (health training), motivational education for members’ children, family financial management and provision of quality services to members. The institution, which transformed into a savings and credit cooperative in 2008, caters exclusively to women. To date, the institution has nearly 720,000 clients 97% of whom are located in rural areas.
Lastly, in India, the Foundation granted a guarantee of an amount equivalent to €4.4 million to the microfinance institution Fusion, for a loan in local currency granted by CACIB India. Fusion Microfinance is a microfinance institution created in 2009 by Devesh Sachdev. Its mission is to be an autonomous financial institution that leverages the existing distribution network to channel other products and services. Fusion has a social vision and business orientation aimed at providing disadvantaged women with economic opportunities to transform their quality of life. To date, the institution has more than 2 million clients, exclusively women.
At the end of May 2022, the Foundation had 75 partners in 36 countries. 15% of these partners are located in South and South East Asia.
More information on the organisations supported by the Foundation here.