This project will support 160 jobs at Sathapana Bank over the next 5 years, including 40% for women, and 105,500 jobs in the companies financed through Proparco’s credit line
Sathapana Bank is one of the largest banks in Cambodia. It is particularly active in financing microenterprises and small and medium-sized enterprises (MSMEs), which play a key role in Cambodia’s economy. The bank benefits from extensive experience in the microfinance sector and relies on a large network in the country, especially in rural areas.
USD 25m out of this USD 50m credit line will support the development of the bank’s SME activity, while the remaining USD 25m will be earmarked to support women’s entrepreneurship, as defined by the 2X Challenge criteria. The 2X Challenge: Financing for Women is an initiative launched in 2018 by the G7 development finance institutions, including Proparco, to promote investments that contribute to gender equality in developing and emerging economies.
The main expected economic and social impacts are as follows:
- Support for the economic development of the country by financing some 3,600 SMEs that mainly operate in the retail, services and agriculture sectors.
- Support for 160 jobs at Sathapana Bank over the next 5 years, including 40% for women, and 105,500 jobs in the companies financed through PROPARCO’s credit line.
- Support for the development of women’s entrepreneurship in Cambodia, as PROPARCO’s dedicated “2X Challenge” credit line will support access to credit for some 2,400 SMEs managed or owned by women, and access to microcredit for 480 women.
- This operation will mobilize some USD 89m of private finance.
Through these various expected impacts on development, the project will contribute to SDG 5 (Gender equality), SDG 8 (Decent work and economic growth) and SDG 10 (Reduce inequalities).
This information is given at the time of signature, without prejudice to any developments in the operation/project