In 2013, OeEB granted a long-term credit-line of USD 10 million to PRASAC Microfinance Institution as part of a USD 60.5 million loan arranged by the Dutch Development Bank FMO. In 2016, OeEB signed a second credit line of USD 10 million.
|Project name||PRASAC Microfinance Institution|
|Region||Southern and Eastern Asia|
|Sector||Financial sector / Microfinance / SME|
|OeEB project volume||USD 20 million|
|Projekt partner(s)||FMO, Cordiant, Turkish Demir-Halk Bank, Norfund, OFID, BIO, DEG|
The credit-lines facilitate financing for micro, small and medium-sized enterprises (MSMEs) in Cambodia. It is estimated that the share of MSMEs makes up to 99% of the total amount of the private-sector. MSMEs are crucial for the situation on the labour market of the country, rated as "least developed" by the OECD.
The credit-lines enable local enterprises to access financing and to undertake investments in one of the poorest countries of the world.