1995-1999 PRASAC I, EU-funded three rural development projects in six provinces, with three different credit components.
Extension as PRASAC II, combined to one project, one credit component.
2000 First strategic decision to create a sustainable institution beyond the closure of PRASAC II project.
2001 HO and branch offices separated from PRASAC II, with separate management but still as a part of the project.
2002 The establishment of PRASAC Credit Association (PCA) was registered with the NBC in March 2002 as Rural Credit Operator.
2003 Two initial shareholders were created, a Trust Fund called CRDF created by PRASAC II and PRASAC Staff Company created by staff members.
2004 Registered as PRASAC MFI Ltd with Ministry of Commerce as a private limited liability company and received license from NBC.
2005 The credit fund was transferred from EC to the government and finally to PRASAC MFI Ltd as Subordinated Debt with free interest and valid from Dec 2004.
2006 The commercialization process was to seek for equity investment participation from commercial and social investors.
2007 PRASAC completed its transformation by replacing CRDF with new five shareholders, BIO, DCG, FMO, LOLC, and Oikocredit. Particularly, PRASAC received a permanent license from NBC in December 2007.
2008 PRASAC increased its capital to 15 billion riels from six shareholders. PRASAC was rewarded for extending its financial services throughout the country.
2009 PRASAC selected Oracle Flexcube to modernize its core system to build competitive advantages, offer more diversified ranges of products and prepare for the next level.
2010 PRASAC obtained a Microfinance Deposit Taking Institution (“MDI”) license to conduct deposit taking business from the National Bank of Cambodia.
2011 PRASAC was rated by a reputable international rating agency “Planet Rating” which specializes in rating microfinance businesses around the globe. PRASAC was graded “A-” and its outlook as “Stable” while the previous rating was “BBB+”by Microfinanza Rating in July 2009.

PRASAC increased its registered capital from 15.4 billion Riels to 80 billion Riels. The increase of the share capital was authorized by NBC. The share capital of PRASAC today is 80 billion Riels distributed among the five shareholders – the Belgium Investment Company for Developing Countries (BIO), the Dragon Capital Group​ (DCG), the Netherlands Development Finance Company (FMO), and the Lanka Orix Leasing Company​ (LOLC) hold 22.25% each and PRASAC Staff Company (PS Co.) holds 11%. At the same time, PRASAC​ is a leading MFI in Cambodia with the largest branch networks, profitability and loan portfolio as well as sustainable growth, and achieves another milestone to become the first MFI who launches ATM services in Cambodia.

2013 PRASAC achieves another milestone by receiving “The Outstanding Innovative Microfinance Product Award 2013” from International Data Group and granted MF Transparency SEAL of pricing transparency award from an international Non-governmental Organization, MF Transparency. At the same time, PRASAC, a leading MFI with the largest branch and ATM networks, profitability, and sustainable growth has achieved another milestone as the best performer by reaching the top roof of loan and savings portfolio among all operating MFIs in Cambodia.