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The PRASAC
( Programme de
Rehabilitation et d'Appui au Secteur Agricole du Cambodge ) Project started in
1995 as a support program for the
agricultural sector in Cambodia, covering
six provinces around Phnom Penh. The first phase of PRASAC
was implemented during the period 01/01/95 -
30/04/99.
The second phase of the project, PRASAC II, commenced on 01/05/99 and was
completed on 31/12/03. Both Programme phases
were funded by the European Commission (EC)
under the Financing Agreement No KHM/B7-3000/IB/98/0181.
It had agriculture, rural infrastructure,
community development, institutional
strengthening, and credit and
micro-enterprise component (domestic water
supply, community development), The Ministry
of Agriculture, Fisheries and Forestry
(sustainable agricultural productivity), the
Ministry of Water Resources and Meteorology
(irrigation schemes), and the Rural
Development Bank (credit Facility)
PRASAC II programme was formally closed in
December 2003. However, the Financing
Agreement (FA) between the EC and the RGC
remained valid until end of December 2004,
which enabled EC to extend its Technical
Assistance up to the same period. The main
task for this assistance was to finalize the
transformation of PCA into a licensed PRASAC
MFI Ltd. It started in 2001 with gradual
transformation into a semi-independent
microfinance operator under the name PRASAC
Credit Association (PCA), registered by the
NBC as a Rural Credit
Operator
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PRASAC MFI is providing financial services to
the rural people in 16 provinces: Kg. Cham, Kg.
Chhnang, Takeo, Kg. Speu, Prey Veng, Svay Rieng,
Kompot, Kandal, Kompong Thom, Pursat, Battambang,
Banteay Mean Chey, Siem Reap Sihanou ville Kratie and its
head office in Phnom Penh.
PRASAC MFI Ltd received permanent license
from NBC |
