Logo of Phnom Penh Post newspaper Phnom Penh Post - PRASAC takes $2m loan from Dutch firm

PRASAC takes $2m loan from Dutch firm

PRASAC takes $2m loan from Dutch firm

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PRASAC Microfinance Institution, Cambodia’s biggest MFI by outstanding loans, has received a US$2 million loan from the Netherlands Development Finance Company, according to a statement from Prasac.

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“The loan was granted based on the conditions that Prasac further strengthened and improved their implementation of [client protection principles],” Tony Bakels, FMO’s Asia manager, said in the statement.

CPP comprise a code of ethics for MFIs.

Prasac’s gross loan portfolio was $151 million at the end of 2011, a year-on-year increase of 43.6 per cent.

It has 125,127 active borrowers.

Earlier this month, Prasac said it hoped to become a commercial bank by 2014.

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