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IFC provides $50M to Amret micro-lender

IFC provides $50M to Amret micro-lender

The International Finance Corporation (IFC) will provide a $50 million financing package to Amret Co to help the Cambodian microfinance institution increase lending to smaller businesses, particularly those in the agriculture sector and rural areas, it said in a press release.

The loan will help Amret provide loans to more 400,000 micro-entrepreneurs, most of whom work in agriculture. IFC acquired a 20 per cent stake in Amret in March 2015.