Grameen Credit Agricole Foundation Lends $770 Thousand to Microfinance Institution Oxus Kyrgyzstan
The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg has issued a loan in the local currency equivalent of $770,000 to Oxus Kyrgyzstan, a member of the France-based Oxus Group. Oxus Kyrgyzstan a microfinance institution (MFI) that was founded in 2006. As of 2019, it had 7,600 active borrowers, mostly women. The MFI lends to individuals and groups, largely for agriculture and livestock breeding.
As of 2018, the Oxus Group serves 41,000 clients in Afghanistan, Kyrgyzstan and Tajikistan with an aggregate gross loan portfolio of $32 million. None of these institutions offer deposits. Oxus Group is majority-held by ACTED, a French NGO formerly known as the Agency for Technical Cooperation and Development. Founded in 1993, ACTED is active in areas such as disaster resilience and “cultural promotion” in 38 countries as of 2019.