IFC may invest $3m in Cambodian microfinance institutions AMK

21 Jan, 2011
Source: Microfinance Focus

Microfinance Focus, January 21, 2011: World Bank’s financial arm, International Finance Corporation (IFC) may make $ 3 million equity investment in local currency in Cambodian microfinance institution Angkor Mikroheranhvatho Kampuchea (AMK) for a 10% stake in the company.

The projects sponsors are Concern Worldwide and Agora Microfinance Partners (“AMP”). Concern founded AMK, as part of its micro-credit activities in 2004. AMP has been engaged with AMK for the last three years.

AMK, headquartered in Phnom Penh, is currently the only MFI which operates in every province of Cambodia. As of October 2010, AMK had 22 branches and 43 sub-branches reaching 88% of the districts and 45% of the villages countrywide.

IFC is a current investor with microfinance institution ACLEDA and has helped it to successfully transform from NGO based MFI to become the leading SME and microfinance bank in Cambodia.