Acleda offers banking services to microenterprises and SMEs in Cambodia and is the country’s leading bank. Proparco’s support will allow it to diversify its financing sources, in particular to develop its loan portfolio.
ACLEDA was set up in 1993 by the International Labor Organization (ILO) and UNDP as a microfinance NGO. In 2003, it obtained a license as a commercial bank and rapidly became a leader on Cambodia’s banking market. The bank today provides banking services to microenterprises and small and medium-sized enterprises. It has a headcount of 11,200 employees and a network of 253 branches. The NGO ACLEDA and Acleda Bank Staff Association own 51% of the capital.
Proparco's credit line will be earmarked to finance growth in Acleda Bank’s portfolio for loans to SMEs and microfinance. It is the 3rd operation signed with ACLEDA since 2009.
This operation will contribute to diversifying Acleda Bank’s sources of refinancing by providing long-term financial resources, which are still scarce in Cambodia. It will help strengthen Cambodia’s banking sector and improve access to financial services for microenterprises and small and medium-sized enterprises. It will strengthen the local economic base and have a positive impact on the incomes of clients and their families.