HKL subdebt (IFC-39167)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • Cambodia
Where the impacts of the investment may be experienced.
Specific Location
Phnom Penh
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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.
Borrower
Hattha Kaksekar Limited
The holder of the loan, grant, or other investment.
Sectors
  • 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)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 15, 2018

Disclosed by Bank Dec 14, 2016


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Project Description

According to IFC website, The proposed project aims to provide senior debt to Hattha Kaksekar Limited in order to support its further growth in the market, especially its lending to micro borrowers and SMEs. The development impact of IFC's investment in the Project is expected to be high given that it will:

1. Improve access to finance for productive micro-entrepreneurs, which will in turn stimulate growth, employment generation and poverty reduction.

2. Allow more rural-dwelling households to obtain formal financial services, such as the mobilization of savings and mobile banking.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
<p dir="LTR">Established in 1994 as a food security project by OCSD/OXFAM-Quebec, a Canadian organization, HKL registered as an NGO in 1996, and then gradually expanded to become a registered microfinance institution in 2001.&nbsp;HKL is 100% owned by Bank of Ayudhya Public Company Limited (BAY or Krungsri), Thailand&rsquo;s fifth largest financial group and a subsidiary of Japan&rsquo;s leading financial group Mitsubishi UFJ Financial Group.</p>
Contact Information

Project Contact: Mr. Hout Iengtong
President & Chief Executive Officer, HATTHA KAKSEKAR LIMITED (HKL), HEAD OFFICE 
Contact No.: (855) 23 994 304, 23 224 102
Email Address: iengtong.h@hkl.com.kh
Office Address: 606, Street 271, Sangkat Phsar Doeum Thkov Khan Chamkamorn, Phnom Penh, Cambodia
Website: http://www.hkl.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/