The proposed investment to ACLEDA Bank Lao Limited, a long term partner of IFC in Lao PDR, consists of a guarantee of up to US$9.2 million equivalent in Lao Kip of a senior loan provided by a third party lender. The purpose of the loan is to support ACLEDA Lao’s lending program to small, and medium enterprises (“SMEs”) in Lao PDR, including to women-owned or women-run businesses.
The project with ACLEDA Lao involves a full credit guarantee from IFC own account with potential support from the Global SME Finance Facility and the Women Entrepreneurs Opportunity Facility for a 5-year US$9 million equivalent local currency senior loan.
According to IFC:
ACLEDA Lao is a 100% owned subsidiary of ACLEDA Cambodia Bank Plc. (“ACLEDA Bank”) with 99.9% direct holding by ACLEDA Bank and 0.1% holding by ACLEDA Institute of Business, another fully owned subsidiary of ACLEDA Bank. ACLEDA Bank, a public limited company organized in Cambodia and a long term strategic partner for IFC in the Mekong region, was established in 1993 as a national NGO and has now evolved to be the largest bank in Cambodia in terms of assets and loan portfolio. In 2008, ACLEDA Bank expanded its operation to Lao PDR and established ACLEDA Lao as a subsidiary of which IFC was also one of the founding shareholders. In 2013, ACLEDA Bank exercised its call option and bought back the shares of all other shareholders and turned ACELDA Lao into a wholly-owned subsidiary.
ACLEDA Bank Lao Ltd.,
Mr. Narin PHON
Managing Director & CEO
(856-21) 260 567 / 264 994 / 264 998 (Ext. 301)
# 372, Unit 21, Phonesavanh Neua Village, Sisattanak District, Vientiane Capital, Lao PDR
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