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navigate_nextMedianavigate_nextOur Newsnavigate_nextUSD135M Co-Financing of SMBC-JICA to ACLEDA Bank Plc. for agriculture sector in Cambodia
USD135M Co-Financing of SMBC-JICA to ACLEDA Bank Plc. for agriculture sector in Cambodia
May 27, 2022
Phnom Penh, 27 May 2022, ACLEDA Bank Plc. "The bank you can trust, the bank for the people", announces today that Japan International Cooperation Agency (JICA) and Sumitomo Mitsui Banking Corporation Singapore Branch (SMBC) signed USD135 million facility agreement with ACLEDA Bank Plc. ("ACLEDA Bank") for further lending to the agriculture sector in Cambodia.
Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc. said that ACLEDA Bank is one of the largest commercial bank in Cambodia, having largest branch network in Cambodia. Through its large branch network in the country, the Cambodian people in all segments of the communities, in particular those who lives in rural areas can access financial services of the ACLEDA Bank including loan in agriculture sector. In effort to promote access to finance even more actively in rural areas, JICA and SMBC co-financing loan in the amount of USD135M to ACLEDA Bank for further lending to agriculture sector in Cambodia. Definitely, it does contribute to promote agriculture production and socio-economic development.
He added that the long-term finance scheme from JICA-SMBC is significant for ACLEDA Bank to reach out more Micro, Small, and Medium Enterprises throughout Cambodia for those who are in needs of financial facilities to start and/or increase their agriculture production as well as to leverage their revenues.
About ACLEDA Bank Plc.
ACLEDA Bank Plc. has 4 subsidiaries, they are ACLEDA Securities Plc., ACLEDA Institute of Business, ACLEDA Bank Lao Ltd. and ACLEDA MFI Myanmar Co., Ltd. as well as representative offices in the Republic of the Union of Myanmar. By March 2022, ACLEDA Bank Plc. had US$8.16 billion in total assets, US$5.79 billion in total credit portfolios and US$5.90 billion in total deposits with over 3.44 million customers.
About JICA
JICA is established by Japanese government to implement development assistance projects to meet the diverse needs of developing countries around the world. JICA aims to contribute to the promotion of international cooperation as well as the sound development of Japanese and global economy by supporting the socio-economic development, recovery from socio-economic crisis, or economic stability of developing regions. JICA values the relationship of mutual trust with developing countries and is working with them to tackle the challenges.
Sumitomo Mitsui Banking Corporation (SMBC)
Headquartered in Tokyo, Sumitomo Mitsui Banking Corporation (SMBC) is a leading global financial institution and a core member of Sumitomo Mitsui Financial Group (SMBC Group). SMBC is one of the largest Japanese banks by assets, with strong credit ratings across our global integrated network spanning over 41 countries and regions, 16 of which are here in Asia. We work across SMBC Group to offer personal, corporate and investment banking services to meet the needs of our customers. Built upon our rich Japanese heritage, we put our customers first and provide seamless access to, from and within the region. For more information, please visit www.smbc.co.jp/asia
For more information please contact:
Mrs. Buth Bunseyha, EVP & Group Chief Legal Officer
Tell: 015 600 532
E-mail: buth.bunsayha@acledabank.com.kh
