Logo of Phnom Penh Post newspaper Phnom Penh Post - World Bank boost for ACLEDA

World Bank boost for ACLEDA

World Bank boost for ACLEDA

The International Finance Corporation, part of the World Bank, will provide a US$5

million long-term loan to ACLEDA Bank Plc to help it expand the lending to micro

borrowers and small and medium enterprises.

ACLEDA emphasizes micro and small-business credit and lends mainly to entrepreneurs,

especially women, selling basic commodities such as rice, produce, and craftmaking

supplies.

Javed Hamid, IFC's regional director for East Asia and Pacific, said ACLEDA's transition

from an NGO to a commercial bank made it a role model for microfinance institutions

in East Asia.

During the past six years, IFC has provided financing and technical assistance to

help expand the bank's lending to microenterprises and small and medium size enterprises.

MOST VIEWED

  • Crumbling prices, rent ruffle condo segment

    The prolonged decline in international arrivals to Cambodia intensified by renewed Covid-19 fears has driven down condominium sales prices and rental rates in Phnom Penh, a research report said. CBRE Cambodia, the local affiliate of US commercial real estate services and investment firm CBRE Group

  • Over $3M in traffic fines collected in two months

    Traffic police officers collected over $3 million in fines throughout the Kingdom during the past two months when officers strictly enforced the law in accordance with a May sub-decree, officials said. As incentives, law enforcement officers received between 200,000 and two million riel ($50 to $500) each. The figures

  • More than 10,000 workers suspended

    More than 10,000 workers at 18 factories in Svay Rieng province have been suspended because of Covid-19, said provincial deputy governor Ros Pharith. Home to 11 special economic zones, Pharith said Svay Rieng has not been spared as the pandemic takes a toll on the global economy. “There

  • Nod given for school exams

    The Ministry of Education, Youth and Sport announced that State-run higher educational institutions can hold examinations to end the academic year, while private schools can organise grade 9 and grade 12 examinations at their premises for two days. However, private institutions have to take measures to prevent

  • Oz lauds Kingdom’s passage of money laundering laws

    In a press release published by the Australian embassy in Phnom Penh on Monday, the country applauded Cambodia’s stance on transnational crimes as well as its promulgation of an anti-money laundering law and a law on combating proliferation financing. The praise came after King

  • Lotus face masks designed to cover globe

    A French designer in Cambodia has produced ecological face masks from lotus fibre to supply local and international markets with an eye on preserving ancestral techniques and supporting Cambodian women in rural communities. During a trip to Asia, Awen Delaval, an eco-friendly fashion designer, was

  • Accused not treated equally, says CCHR

    The Cambodia Centre for Human Rights (CCHR) has urged the Court of Appeal to do more to ensure that an accused’s right to a fair trial is fully respected. In a bulletin released on Monday, the CCHR said it had monitored 273 cases at the

  • Fish, frogs to boost local food supply

    The government has disbursed more than $4.5 million to boost aquaculture production and domestic market supply amid the Covid-19 pandemic. Minister of Agriculture, Forestry and Fisheries Veng Sakhon told The Post on Monday that in boosting agricultural production, the ministry has received financing from development partners

  • Planning ministry hands out cash to 420,000 poor families in Kingdom

    The Ministry of Planning has identified 20,000 more poor families in the country, bringing the total to over 580,000, while over 420,000 of them have received the government’s cash assistance. In the meantime, many social security cards from families not deemed to be poor have been revoked.

  • Nature in focus at inaugural film and photo festival

    The first Cambodian Wildlife Photo and Film Festival – an event celebrating the conservation of nature through the eyes of wildlife photographers, nature enthusiasts and conservation experts – is scheduled for July 18-26 at Fauna in Focus’ Nature Discovery Centre in Siem Reap. The festival will be