Amret AB Loan (IFC-37505)

Countries
  • Cambodia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 18, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
AMRET CO LTD
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 31, 2018

Disclosed by Bank Nov 11, 2015


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Project Description

This project finances a senior debt package to Amret Company Limited to support its lending program for a pipeline of micro-finance and agricultural projects in the country in order to improve access to finance for productive micro-entrepreneurs with a strong focus in agribusiness.

Investment Description
  • International Finance Corporation (IFC)

The proposed investment consists of up to USD 7 million of A Loan for IFC’s own account, and up to USD 53 million of B/Parallel Loan. Amret Company Limited is a micro-finance institution with a substantial operational network and deep reach in the rural and underserved areas of Cambodia, serving more than 300,000 borrowers as of June 2015 in all 25 provinces in the Country. As a licensed deposit taking institution, it also offers other financial services including checking and saving accounts and fee-based services such as bill payments. Shareholders of Amret Company Limited are Advans Sa Sicar with 52.78%, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. with 19.99%, La Fayette Participations S.A.S with 4.06%, Botta Co., Ltd. with 3.17% and International Finance Corporation with a 19.99% ownership. Advans SA is an IFC investee registered in Luxembourg and a global partner for microfinance. Advans aims to encourage private enterprises and contribute to poverty reduction in developing and emerging countries, by increasing the supply of high-quality sustainable microfinance services. Advans mainly operates in frontier Asia and African markets.

Private Actors

The Company is a microfinance institution with a substantial operational network and deep reach in the rural and underserved areas of Cambodia, serving more than 300,000 borrowers as of June 2015 in all 25 provinces in the Country. As a licensed deposit taking institution, the Company also offers other financial services including checking and saving accounts and fee-based services such as bill payments.

Contact Information

c/o Mr. Chea Phalarin
Chief Executive Officer
Amret Company Limited
#35BA, St. 169, Veal Vong, 7 Makara,
Phnom Penh
Kingdom of Cambodia
Tel: (855) 23 880 942
Fax: (855) 23 881 342
Email: mailto:phalarin.chea@amret.com.kh

ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/