PROJECT

Projects

Summary of Investment Information

Project Number

33206

Company Name

PRASAC MICROFINANCE INSTITUTION PLC

Date SPI Disclosed

Mar 1, 2013

Country

Cambodia

Region

East Asia and the Pacific

Projected Board Date

Apr 1, 2013

Environmental Category

FI-3 - No Impact

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Apr 15, 2013
Signed : Apr 22, 2013
Invested : May 9, 2013

Sector

Microfinance and Small Business - Non Commercial Banking

Project Description

The Project is to provide a subordinated debt of up to US$10 million to Prasac MFI Ltd. (“Prasac” or “the MFI”), a growing MFI in Cambodia, in order to support them in raising stable long-term funding to provide micro finance solutions to small businesses and individuals (over half of which are women) in Cambodia. Further, it is also to show strong engagement of IFC towards Prasac’s development for a potential equity investment opportunity as the timing is adequate.

The proposed project consists of Tier II qualified subordinated debt up to US$10 million with maturity of up to 7 years (grace period of up to 3 years)

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation