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
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.