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

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.

MOST VIEWED

  • Ethnic group ‘disappointed’ to be denied French visas to attend court

    Eleven people at the centre of a case involving seven indigenous Bunong villages in Mondulkiri province pursuing legal action in France have expressed disappointment after the French embassy in Phnom Penh denied their visa applications to attend court. A press release said the 11 included a

  • Cambodia nabs 12th place in best retirement destinations

    Cambodia is an expatriate hotspot for those dreaming of living a more luxurious lifestyle at an affordable cost, according to International Living’s Annual Global Retirement Index 2019. For the fourth year in a row, Cambodia took the top spot in the Cost of Living category.

  • EU starts EBA withdrawal

    The EU on Monday announced that it has begun the 18-month process of withdrawing the Kingdom’s access to its preferential Everything But Arms (EBA) agreement over “a deterioration of democracy [and] respect for human rights”. However, the Garment Manufacturers Association of Cambodia (GMAC) said

  • PM: War result of foreign meddling

    Prime Minister Hun Sen said on Sunday that Cambodia’s recent history of conflict was caused by foreign interference. “The wars that happened were caused by provocation, incitement, support, smearing and interference from foreign powers, and the group of ignorant people who pushed Cambodia to