According to IFC, the project intends to provide up to US$25 million of liquidity to HKL, which will then on lend to approximately 3,000 MSME clients. Market Creation: By sustaining the ability to provide these services, IFC's facility is intended to promote jobs as well as broader stability that comes about by providing for the going concern of market participants in Cambodia.
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. It obtained its microfinance deposit taking institutions (“MDI”) license in 2010.
HKL is an existing portfolio client of IFC and one of leading MDI in Cambodia. As of April 30, 2020, HKL operates with an asset base of around US$1.25 billion, serving close to 152,200 borrowers. HKL provides loans, savings, and other inclusive financial services countrywide, in particular to women and farmers in rural areas.
HKL is 100 per cent owned by the Thailand-based Bank of Ayudhya (“Krungsri”) (“BAY”), itself a 76.88 per cent owned subsidiary of the Japanese banking conglomerate, Mitsubishi UFJ Financial Group (“MUFG”).
Hattha Kaksekar Limited
Hout Ieng Tong
President and CEO
ACCOUNTABILITY MECHANISM OF IFC
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