Prasac Sr Loan 2

completed

The Project is to provide an IFC A loan of up to US$10 million with maturity of up to 5 years to Prasac Microfinance Institution Limited (“Prasac” or the “Company”), an IFC existing client.Prasac is one of the largest microfinance institutions (“MFI”) in Cambodia by gross outstanding loans and number of borrowers. It is one of the 7 MFIs in the country licensed to take deposits. Prasac’s strategy is to provide financial services to rural communities and microenterprises in Cambodia. Prasac has significantly grown its operation over the last 5 years. As of December 2013, Prasac provided micro finance solutions to over 196,906 small businesses and individuals (over 85 percent of which are women) in Cambodia. With a plan to transform into a commercial bank in 2014 Prasac’s target is to provide a wider range of financial products and services to its clients.Through the Project IFC aims to provide Prasac a stable long term funding which is limited in Cambodia in order to support its loan growth.