The Grameen Credit Agricole Foundation funds a third MFI in Kazakhstan
The Grameen Crédit Agricole Foundation granted a first loan in local currency equivalent to €1.5 million to the microfinance institution Asian Credit Fund (ACF), over a three-year period. With this funding, the Foundation has now three partners in this country.
Asian Credit Fund LLC was established in 1997, as a micro and small business lending programme set up by international relief and development organisation, Mercy Corps. ACF’s financial services are designed to promote the development of rural households, the growth of small businesses, and home ownership in cities and villages throughout the Republic of Kazakhstan.
ACF adheres to a niche community lending model, providing tailored financial solutions, business advice and technical assistance to its clients. These services are provided both directly by ACF’s personnel and through targeted referrals made to members of ACF’s partner network.