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Logo of Phnom Penh Post newspaper Phnom Penh Post - IFC offers Acleda Bank $50M for SME lending

IFC offers Acleda Bank $50M for SME lending

| Publication date 17 February 2016 | 07:14 ICT

A motorist drives by Acleda bank on Monivong Boulevard in May.
A motorist drives by Acleda bank on Monivong Boulevard in May. Pha Lina

IFC offers Acleda Bank $50M for SME lending

The International Finance Corporation (IFC) will provide a $50 million syndicated loan to Acleda Bank to boost lending to small and medium enterprises, of which at least half will support women-owned enterprises, it said yesterday.

In Channy, president and group managing director of Acleda Bank, said women-owned businesses were an important part of the economy, but their access to finance was limited.

He said the funding would allow Acleda Bank to reach more women-owned SMEs to help them grow and expand their businesses.

The $50 million financing package includes $30 million from the IFC and $20 million from French banking Group BRED Banque Populaire.

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