Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Largest MFI Prasac gets loan boost for coffers

Largest MFI Prasac gets loan boost for coffers

Cambodia’s largest microfinance institution, (MFI) Prasac, has received a $60.5 million loan to strengthen its capacity in offering broader financial services in the country.

On Friday, Prasac signed the agreement for the syndicate loan – provided by more than one lender – with the Netherlands Development Finance Company. The Den Hague-based development bank provides $12.5 million, the rest is shared among five other countries.

Sim Senacheert, Prasac’s chief executive, said yesterday that the new loan has an interest rate of between six and 6.5 per cent per year and will partly be used to refinance several lenders that his company owes, while a larger amount serves to expand Prasac’s loans to small and medium enterprises needed to drive growth in Cambodia.

“It will boost our capacity to offer the full range of financial services,” Senacheert said.



Please, login or register to post a comment

Latest Video

Turkish Embassy calls for closure of Zaman schools

With an attempted coup against the government of President Recep Erdogan quashed only days ago and more than 7,000 alleged conspirators now under arrest, the Turkish ambassador to Cambodia yesterday pressed the govern

CNRP lawmakers beaten

Two opposition lawmakers, Nhay Chamroeun and Kong Sakphea were beaten unconscious during protests in Phnom Penh, as over a thousand protesters descended upon the National Assembly.

Student authors discuss "The Cambodian Economy"

Student authors discuss "The Cambodian Economy"

Students at Phnom Penh's Liger Learning Center have written and published a new book, "The Cambodian Economy".