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OPIC and ACLEDA Bank Plc Sign Commitment to Support Lending in Cambodia

Wednesday, August 24, 2016

(OPIC)  Phnom Penh — ACLEDA Bank Plc., The Bank For The People, The Bank You can Trust, today announced that the Overseas Private Investment Corporation (OPIC), the U.S. Government's development financial institution, signed a commitment letter for US$125 million direct loan to ACLEDA Bank Plc., a leading commercial bank in Cambodia to support all sectors through micro, small and medium enterprises (MSMEs). The project seeks to generate economic growth, employment, and goods and services in the Cambodian private sector.

Dr. IN Channy, President & Group Managing Director of ACLEDA Bank Plc. said that "Long term finance from OPIC is significance for ACLEDA Bank Plc. to reach out more Micro, Small, and Medium Enterprises throughout Cambodia those who are in need of financial facilities to start and/or expand their businesses as well as to leverage their revenues. Furthermore OPIC Finance does form diversified sources of strategic funding for ACLEDA Bank Plc. as the market leader in financial industry."

“We are pleased to be working with ALCEDA on this facility” said Elizabeth L. Littlefield, OPIC President and Chief Executive Officer. “The OPIC facility will allow ALCEDA to expand their micro, small and medium enterprises portfolio which will permit the development of more sustainable businesses in Cambodia to improve the quality of life for thousands of Cambodians.”