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IFC offers ACLEDA Bank $50M for SME lending

Wed, 17 February 2016  |  Source: The Phnom Penh Post

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.