The bank hopes facility will make Cambodia a hub for MFI training
Photo by: Heng Chivoan
ACLEDA President In Channy pictured in this file photo. The bank received funds to build a centre to train microfinance loan officers.
ACLEDA Bank has received an US$850,000 grant from the German Development Bank to fund its new Asean Regional Microfinance Training Center.
Bank President In Channy said the centre will be managed by ACLEDA - Cambodia's largest commercial bank - which will finance equipment, fellowships, international consultants and capacity-building programs for faculty and staff.
"The funds will be used for three objectives: equipment, operational costs and short-term scholarships for a three-year period," he told the Post.
"After that, we will charge a fee of $500 per day for groups of between three and 10 people. Each course will last five days," he said.
He added that in five years' time, he expects the centre expects to have trained 1,300 foreign students and experts.
Say Sony, manager of the Prassac Microfinance Institution, said Sunday the establishment of the centre shows the progress of MFIs in Cambodia, but added that he had no plans to send his staff of nearly 1,000 credit officers.
"We have enough internal training units covering all essential skills involved in microfinance," he said.
"I think the centre will be focusing primarily on overseas students. The fees are likely to be too expensive for local people," he said.
Cambodia currently has 17 MFI institutions, with each employing an average of 500 workers.