ACLEDA Myanmar company raised about Ks1
billion (US$1 million) as the initial investment in the microfinance
business early this year and it is now going to expand up to Ks8
billion, according to Mr. Kim Bunsocheat.
“We will offer two different types of
loans -- individual and group loans. Group loans will be prioritized. A
group will consist of two to five persons. In giving loans, each will be
lent Ks100,000 [US$1,00] at the interest rate of 2.5 percent. After
group loans, individual loans are offered,” he said.
SME owners are required to show a
document that proves ownership of the property and other official papers
like the national registration card to get loans at the ACLEDA Myanmar.
ACLEDA Myanmar was established on
February 18, 2013, and it has 30 branch offices across the country. The
company intends to open new 15 offices in other townships in the near
future, Mr. Kim Bunsocheat said.
Founded in 1993 as a national NGO for
micro and small enterprise development, ACLEDA Bank is now the major
commercial bank of Cambodia. It is partially owned by the international
associations such as International Finance Corporation, a division of
the World Bank, and the COFIBRED, a subsidiary of the French banking
group BRED Banque Populaire.
source: Eleven Myanmar
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