OPIC and ACLEDA Bank Plc Sign Commitment to Support Lending in Cambodia
August 24, 2016
(OPIC)
Phnom Penh — ACLEDA Bank Plc., The Bank For The People, The Bank You can Trust,
today announced that the Overseas Private Investment Corporation (OPIC), the
U.S. Government's development financial institution, signed a commitment letter
for US$125 million direct loan to ACLEDA Bank Plc., a leading commercial bank in
Cambodia to support all sectors through micro, small and medium enterprises
(MSMEs). The project seeks to generate economic growth, employment, and goods
and services in the Cambodian private sector.
Dr. IN Channy, President & Group Managing Director of ACLEDA Bank Plc. said
that "Long term finance from OPIC is significance for ACLEDA Bank Plc. to reach
out more Micro, Small, and Medium Enterprises throughout Cambodia those who are
in need of financial facilities to start and/or expand their businesses as well
as to leverage their revenues. Furthermore OPIC Finance does form diversified
sources of strategic funding for ACLEDA Bank Plc. as the market leader in
financial industry."
“We are pleased to be working with ALCEDA on this facility” said Elizabeth L.
Littlefield, OPIC President and Chief Executive Officer. “The OPIC facility
will allow ALCEDA to expand their micro, small and medium enterprises portfolio
which will permit the development of more sustainable businesses in Cambodia to
improve the quality of life for thousands of Cambodians.”
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