Acleda takes out $10 Million
Acleda Bank has signed a $US10 million loan agreement with Proparco, a development finance institution held in part by the Agence Francaise de Développement (AFD), according to a statement released on Wednesday. With the Kingdom’s financial sector expanding rapidly and a growing demand for banking and financial services among Cambodians, the loan seeks to support the growth of the commercial bank’s loan portfolio, according to the release. … Acleda president and chief executive In Channy said the money was needed to fin-ance long-term projects such as housing loans. … The $10 million loan, which has a five-year maturity, and is the second such support Acleda has received from the French institution. … The Acleda loan will take the number of Proparco’s interventions in the Cambodian financial sector to six. …
http://www.phnompenhpost.com/index.php/2012090758553/Business/acleda-takes-out-10m-loan.html
