|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 15.4 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.|
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 to 80 billion Riels, which is roughly equivalent USD20 millions. At the same time, PRASAC is the 1st MFI in Cambodia who has launched ATM service in Sep 2012.
|2013||PRASAC achieved another milestone by receiving “The Outstanding Innovative Microfinance Product Award 2013” from International Data Group and also received MF Transparency SEAL of pricing transparency award from an international Non-governmental Organization, MF Transparency.
|2014||PRASAC increased its registered capital to 188 billion Riels, which is roughly equivalent USD 47 millions. PRASAC is still leading in network and business performance.|