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May 27, 2015 02:01 PM

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IFC Invests in Cambodia’s PRASAC Microfinance Institution Ltd. to Expand Lending for Micro and Smaller Businesses

Phnom Penh, Cambodia, 28 April 2015—IFC, a member of the World Bank Group, has provided a loan of up to $10 million to PRASAC Microfinance Institution Ltd., Cambodia’s largest organization of its kind, to increase lending to micro, small and medium enterprises in the rural and agricultural sectors. The long-term funding will enable PRASAC to accelerate growth of its lending portfolio to reach $900 million with the total number of outstanding loans reaching 350,000 by the end of 2019.

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PRASAC Rating is "A" Given by Planet Rating

Phnom Penh: On 24 April 2015, PRASAC earned  grad  "A" with outlook as "Stable" after rated by a reputable international rating agency "Planet Rating" in February 2015, who specializes in rating microfinance business around the globe. Please noted that PRASAC was rated in grad “A-” by the same rating agency in 2011.

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Prasac Celebrates Happy Life Day for the Vulnerable Children

On April 9, 2015, Prasac celebrates happy life day for children who are the targeted beneficiaries of Khemara NGO at Ottarawatei Pagoda, National road number 5, Mittapheap Village, Russey Keo District, and Phnom Penh. About 350 vulnerable children and orphans participated in the event.

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More Convenient with PRASAC ATM VIP Plus Chip Card

PRASAC, the first microfinance institution, has provided ATM Service to the valued customers since 2012 nationwide. Today, PRASAC has upgraded its ATM card with chip. PRASAC is now having 3 different types of ATM cards such as VIP Card, VIP Plus Card and VIP Plus Chip Card with more than 47 thousand card holders.

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The 9th Library Building Inauguration, Plans to Construct 8 Libraries in 2015

In speech released on Friday 19th December 2014 during the library inauguration ceremony at Royiep primary school, Kandal village, Voa Sar commune, Samraong Tung district, Kampong Speu, Mr. Oum Samoeun, EVP and Chief Operation Officer, said that “PRASAC plans to construct additional 8 library in 2015 in different provinces”. The library building in Royiep primary school is the solid gift of PRASAC to students in Kampong Speu, especially teachers, students, and communities at and nearby Royiep school; and it is also the 9th library funded by PRASAC.” he added.

 

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