PROJECT

Projects

Summary of Investment Information

Project Number

32982

Company Name

ACLEDA BANK LAO LTD

Date SPI Disclosed

Apr 24, 2013

Country

Lao People's Democratic Republic

Region

East Asia and the Pacific

Projected Board Date

May 28, 2013

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Nov 30, 2016

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : May 24, 2013
Signed : Jun 20, 2013
Invested : Aug 9, 2013

Sector

Commercial Banking - Microfinance

Project Description

The Project is to provide a senior loan to ACLEDA Bank Lao Ltd (“ACLEDA Lao”), an existing client of IFC. ACLEDA Lao was established in July 2008 in Lao PDR by Acleda Bank Plc. Cambodia (“ACLEDA”), also an existing IFC client. ACLEDA Lao provides financial services and products to micro and small borrowers, and SMEs. With an increasing focus on the SME sector in Lao PDR, ACLEDA Lao has grown its loan portfolio by a compound annual growth rate of over 200% between 2008 and 2011. Through this project, IFC aims to support ACLEDA Lao’s growth with an objective of increasing access to finance to micro and small borrowers, and SMEs.

The proposed project consists of a senior loan of up to US$8 million with maturity of up to 5 years (grace period of up to 2 years).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation