Cambodia: Prasac Microfinance Institution to Receive $40 Million Loan

Nov 2018
Cambodia, November, 01 2018 - The ADB has approved $40 million loan to Prasac microfinance institution to expand micro and small, medium-sized enterprise lending, according to the report.

According to the ADB’s report, the loan will support the growth of PRASAC’s financing portfolio for micro, small, and medium-sized enterprises (MSMEs).

It said that the project’s primary stakeholders are MSMEs in Cambodia’s rural and semi-urban areas.

“PRASAC has identified a large unbanked and underserved market in rural areas that can contribute to greater inclusion in productive economic activity if given access to their lending products,” the report said.

It says the transaction will contribute to financial sector development by supporting an investment that promotes more inclusive economic growth and foster MSMEs through enhanced access to long-term finance.

Say Sony, vice-president of Prasac Microfinance, confirmed that the loan was approved by the ADB.

“The loan will support the small and medium enterprises that need loan to expand their business,” Mr Sony said.

Source : Khmer Times

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