The Grameen Crédit Agricole Foundation has granted a first loan in Indonesian rupiah for a total amount equivalent to € 840,000 over a three-year period, to the microfinance institution KSP TLM.
KSP TLM is a microfinance institution that was created in 2011 by TLM Foundation whose mission is to support local communities through the provision of business development initiatives and related services based on the group lending methodology. KSP TLM serves community loans through the “SeSama” group (perSekutuan uSaha bersaMa), a group of women. This loan product is aimed at supporting female members who run microbusinesses mainly in rural areas. TLM offers also saving facilities and training programmes.
With this new investment, the Foundation now has three partners in this country, which represents, by the end of December 2017, 21% of the Foundation’s microfinance commitments in the South and Southeast Asia region.
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Created in 2008, under the joint impetus of the directors of Crédit Agricole S.A. and Professor Yunus, winner of the 2006 Nobel Peace Prize and founder of the Grameen Bank, the Grameen Crédit Agricole SA Foundation is a multi-business operator that contributes to the fight against poverty through financial inclusion and entrepreneurship with a social impact. As an investor, lender, technical assistance coordinator and fund advisor, the Foundation supports microfinance institutions and social enterprises in nearly 40 countries.