Sathapana borrows $15m for micro loans
Cambodian microfinance institution (MFI) Sathapana Limited will receive $15 million in loans to provide additional support to small- and medium-size enterprises (SMEs), which make up the vast majority of the country’s businesses. The loan comes courtesy of German Investment and Development Company DEG, a subsidiary of Germany development bank KfW. Speaking during the signing ceremony at the Raffles Hotel le Royal in Phnom Penh yesterday, Sathapana CEO Bun Mony said the loan has to be paid back within seven years, at an interest rate of about 6 per cent. … As of August 1, Sathapana registered outstanding loans of $143 million in the hands of 72,600 borrowers. The number of deposit customers, or those who use the MFI like a savings account, reached 54,334. Taken together, clients stowed away $70 million. …
http://www.phnompenhpost.com/business/sathapana-borrows-15m-micro-loans
