PRASAC, the leading micro finance institution in Cambodia, marked its debut in the syndicated loan market with a USD 60.5 million facility. OeEB participates with USD 10 million. The transaction is reported to be the single largest ever micro finance syndicated facility worldwide.
Led by the Dutch FMO the OeEB arranged a USD 60.5 million syndicated loan. It has participations from five other international financial institutions. These include Cordiant from Canada, Turkish Demir-Halk Bank, Norfund from Norway, the Opec Fund for International Development (OFID) and the Belgium Development Bank (BIO).
“For OeEB this facility offers a unique opportunity to support micro-enterprises which constitute an essential pillar for Cambodia’s further economic development,” says Andrea Hagmann, member of the executive board of OeEB. “For many Cambodians micro business forms a significant part of household income. Providing funding for these activities is one of the main targets of OeEB.”
Find further information read the full press release.