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World Bank President Visits ACLEDA Bank's Micro-business Customer

August 04, 2007

Delegates take photo with ACLEDA Bank's micro loan customers

Phnom Penh, August 04, 2007 — A delegation of senior officials from the World Bank led by Mr. Robert B. Zoellick, President, accompanied by H.E. Mr. Chea Chanto, Governor of the National Bank of Cambodia, and his top staff today made a visit to one of Cambodia’s most successful micro-entrepreneurs.

Mrs. Yi Lab is the owner of an enterprise manufacturing tractors and threshing machines for the agricultural sector. Employing 10 workers and using mostly locally sourced material Mrs. Yi Lab and her husband, Mr. Leab Roth, are customers of ACLEDA Bank’s Dangkor Branch which provides them with working capital finance to purchase raw materials and components. They started their business in 2000 and have enjoyed steady growth in sales and revenues since then capitalising on the opportunities offered by the booming economy. Today they are considered to be a leading example of how even small businesses can quickly become successful with a good plan in partnership with a bank which specialises in providing financial services to micro-entrepreneurs.

Delegates visit ACLEDA Bank's micro loan customer's manufacture

During his visit the World Bank President enjoyed a friendly talk with the owners as well as the bank's CEO, Mr. In Channy. He was particularly interested in how ACLEDA Bank, of which the World Bank through one of its components, the International Finance Corporation, is a shareholder, was supporting the agricultural sector. Mr. Zoellick stressed that poverty alleviation, especially in rural areas, was one of the World Bank’s most important missions and he praised ACLEDA for its achievements noting the bank’s efforts to be near its customers by building a country-wide network providing a full range of services every province.

Mr. Channy responded that this is a historic moment and source of great pride, not only to ACLEDA Bank and its customers but to the nation as a whole, that the President should have chosen to visit Cambodia as one of his first overseas destinations so soon after taking office. He expressed the hope of everyone present that this will be only the first of many such visits as he looked forward to demonstrating the sustainable contribution that the bank is making in providing financial services to those previously unable to enjoy them.

About ACLEDA Bank Plc.

ACLEDA Bank Plc. is a public limited company formed under the laws of the Kingdom of Cambodia. It was originally established in January 1993 as a national NGO for micro and small enterprises' development and credit. By December 01, 2003, the National Bank has granted ACLEDA Bank a full commercial banking license, enabling it to expand a wide range of services for customers.

ACLEDA Bank's International Shareholders: International Finance Corporation (a division of the World Bank), DEG (a part of KfW, Germany), FMO (Netherlands), Triodos-Doen Foundation and Triodos Fair Share Fund (Netherlands).

Today, ACLEDA Bank has expended its Branch Network to 167 offices operating throughout Cambodia's 24 provinces and cities. As at June 30, 2007, ACLEDA Bank Plc. has provided financial services to 170,922 active borrowing customers with US$202,754,454 and Deposit customers of 181,300 accounts with US$201,858,872 and its total asset is US$313,312,338.

By July 31, 2007, ACLEDA Bank has 72 correspondent banks in 47 countries with 768 corresponding branches.

For more information contact:

Mrs. So Phonnary, Senior Vice President & Head of Marketing Division
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Mr. Prom Visoth, Senior Vice President & Head of Legal Division
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