[PHNOM PENH POST]
Shatha Kaksekar Limited, one of Cambodia’s largest microfinance
institutions, has received a US$5 million loan from a French development
organisation in order to meet rising demand among its client farmers.
PROPARCO,
which is a joint venture between the French Development Agency and
public and private shareholders, and Hattha Kaksekar signed the loan
agreement yesterday in Phnom Penh.
“We need more money because
nowadays people require more and more capital,” Hattha Kaksekar general
director Huot Eang Tong said.
The loan term was eight years with the first two years interest free, he added.
Hattha
Kaksekar is ranked number four among MFIs in the Kingdom in terms of
total loans oustanding, according to the Cambodia Microfinance
Association.
National Bank of Cambodia director general and
spokeswoman Nguon Sokha pointed to the loan as evidence of the MFI’s
expanding business in Cambodia.
“And it shows confidence from its partners who are granting the loans,” she said.
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