According to IFC website, the proposed project entails an IFC investment of up to US$50 million in a senior loan, consisting of an up to US$25 million IFC A Loan and an up to US$25 million B Loan to Amret Plc. with at least 30 percent of the loans expected to be used on women and women-owned micro, small, and medium enterprises (MSMEs) in Cambodia. The investment aims to support the Company’s working capital lending program to Cambodian MSMEs that have been impacted by Covid-19 (the Project), particularly those in the garments, tourism and construction sectors, and will be supported by an IDA Private Sector Window (PSW) Blended Finance Facility.
Amret is a leading microfinance deposit taking institution (MDI) in Cambodia that has been providing financial services for nearly 30 years to low-to-middle-income populations as well as MSMEs, with a focus on agriculture and rural areas. The Company which was launched in 1991 and obtained a license to operate as a deposit-taking MFI in 2009 has grown its asset base to US$1.2bn as of April 2020. It provides a wide range of financial services to more than 510,000 clients and has a substantial operational network and reach in rural and underserved areas.
Amret is majority owned and controlled by Advans S.A, SICAR (Advans) with a 52.78% shareholding. Other shareholders include IFC and FMO with 19.99% shareholding each and La Fayette Participations S.A.S and Botta Cambodia with 4.06%, 3.17% shareholding respectively.
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