Logo of Phnom Penh Post newspaper Phnom Penh Post - FASMEC MFI enters the lending market

FASMEC MFI enters the lending market

FASMEC MFI enters the lending market

Cambodia’s newest microfinance institution FASMEC Microfinance officially launched yesterday.

With a start-up capital of $1 million raised from a handful of investors on the new company’s board, the MFI hopes to expand its loan portfolio by the end of 2016.

“So by year end we may release $1 million in loans, and in 2016 we can find additional funding for $3 million to $5 million,” FASMEC Microfinance president Te Taing Por said.

Named after the Federation of Associations of Small and Medium Enterprise of Cambodia, the new MFI is a distinct entity of its own, Taing Por said yesterday.

However, FASMEC Microfinance will be looking to lend to the federation’s members under a more favourable fee structure, Taing Por added.

Targeting small- and medium-sized enterprises, the MFI will set up branches in Kandal, Takeo, Kampong Cham, Siem Reap and Battambang provinces.

Bun Mony, CEO of Sathapana Limited and president of the Cambodian Microfinance Association, welcomed Cambodia’s 54th MFI yesterday, saying that it would increase access to finance for Cambodia’s smaller businesses.


  • Cambodia’s image problem

    In opening remarks at a recent event, Secretary of State at the Ministry of Foreign Affairs and International Cooperation Luy David said information can be a double-edged sword. He told a European Institute of Asian Studies (EIAS) briefing seminar that the media has unfairly presented

  • PM Hun Sen says dangers averted

    Delivering a campaign speech from his home via Facebook Live on Thursday, caretaker Prime Minister Hun Sen said his Cambodian People’s Party (CPP) had carried the country through danger in its latest mandate. He was specifically referring to the threat of a “colour revolution”

  • Kingdom's trade deal with EU questioned before poll

    A European Union (EU) mission met with senior government officials at the Ministry of Interior on Tuesday as the 28-member bloc monitors an agreement under which Cambodian goods reach the crucial European market tariff-free. Some 10 commissioners are in the Kingdom as part of a seven-day

  • A new carrier takes off in capital

    Cambodia Airways, the latest passenger airline to enter the Kingdom, launched its first domestic flight on Tuesday. Flight KR801, carrying 145 passengers, left the Phnom Penh International Airport at 9:50am and landed in Siem Reap at 10:35am in an Airbus A319. Cambodia Airways marketing and branding