Almaty, Kazakhstan – June 11, 2014. Microcredit Organization Asian Credit Fund LLC (ACF) will increase its lending to rural households of Kazakhstan by at least $3 million following an equity investment of $500,000 from BOPA (Base of Pyramid Asia). <\/p>\n
ACF\u2019s new equity investor is a holding company based in Singapore, which is focusing on addressing equity needs of smaller and early stage microfinance institutions across Asia. In 2013, BOPA made investments in MFIs in Vietnam, Cambodia and East Timor. Investing in Kazakhstan is the next step of BOPA\u2019s market development goal to reach more than two million micro-entrepreneurs and households with microfinance services through its partner MFIs by 2020. <\/p>\n
Mr. Steve Mitchell, ACF\u2019s Mercy Corps representative commented, \u201cMercy Corps is happy to see ACF well capitalized by an investor who seeks to make social impact with reasonable financial returns. The equity investment was arranged in a way that Mercy Corps will be able to guide ACF\u2019s community development mission for the foreseeable future.\u201d
\nACF\u2019s Supervisory Board Chairman, Mr. James Anderson, has big hopes for ACF\u2019s development with the BOPA investment. \u201cPreviously, high leverage didn\u2019t leave room for growth at ACF, despite the need for financing among rural households in Kazakhstan,\u201d Anderson commented. ACF, whose average loan size is $680 (Kazakhstan\u2019s GDP per capita is $12,000 ) targets low income households with small loans for business development and energy efficient renovations.
\nCEO of BOPA, Mr. Christian Andersen, is very excited about BOPA becoming a shareholder of ACF: \u201dWe are very impressed with the work ACF has done for poor households and small entrepreneurs in the rural areas of Kazakhstan. BOPA really looks forward to work closely with ACF and Mercy Corps to support the further growth in scale and impact of ACF in Kazakhstan.\u201d
\nACF is a microfinance institution founded by Mercy Corps and serving the underserved rural areas of Kazakhstan with microfinance services. ACF\u2019s mission is to be the leading development organization in Kazakh microfinance sector that provides financial and development products and services to households to improve the quality of their lives.<\/p>\n","protected":false},"excerpt":{"rendered":"
Almaty, Kazakhstan – June 11, 2014. Microcredit Organization Asian Credit Fund LLC (ACF) will increase its lending to rural households of Kazakhstan by at least $3 million following an equity investment of $500,000 from BOPA (Base of Pyramid Asia). ACF\u2019s new equity investor is a holding company based in Singapore, which is focusing on addressing […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32],"tags":[],"class_list":["post-1337","post","type-post","status-publish","format-standard","hentry","category-acf-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/asiancreditfund.com\/en\/wp-json\/wp\/v2\/posts\/1337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/asiancreditfund.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/asiancreditfund.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/asiancreditfund.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/asiancreditfund.com\/en\/wp-json\/wp\/v2\/comments?post=1337"}],"version-history":[{"count":0,"href":"https:\/\/asiancreditfund.com\/en\/wp-json\/wp\/v2\/posts\/1337\/revisions"}],"wp:attachment":[{"href":"https:\/\/asiancreditfund.com\/en\/wp-json\/wp\/v2\/media?parent=1337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/asiancreditfund.com\/en\/wp-json\/wp\/v2\/categories?post=1337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/asiancreditfund.com\/en\/wp-json\/wp\/v2\/tags?post=1337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}