Advanced Bank of Asia loans MFI $2m
The Advanced Bank of Asia (ABA) last week loaned PRASAC Microfinance Institution US$2 million to support the rapid growth of the microfinance loan industry. … The domestic loan was chosen to “diversify our funding sources” because of a large reliance on overseas capital which moves many of the jobs created away from the Kingdom Sim [Senacheert] told the Post on Monday. … So far about seven or eight Microfinance Institutions have received loans from local banks worth between US$30-$40 million. …
