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U.S.-owned OPIC signs up to lend 125 mln USD to Cambodia's commercial bank

Xinhua, August 24, 2016 Adjust font size:

The U.S. government-owned Overseas Private Investment Corporation (OPIC) on Wednesday signed up to provide a 125 million-U.S.-dollar direct loan to Acleda Bank in Cambodia to support all sectors through micro, small and medium enterprises, according to a bank's press release.

The project seeks to generate economic growth, employment and goods and services in the Cambodian private sector, the press release said.

"Long-term finance from OPIC is significant for Acleda Bank to reach out more micro, small and medium enterprises throughout Cambodia," said Acleda Bank's president and group managing director In Channy.

"Furthermore, OPIC finance does form diversified sources of strategic funding for Acleda as the market leader in financial industry," he said.

OPIC president and chief executive officer Elizabeth L. Littlefield said the corporation was pleased to be working with the bank on this facility.

"The OPIC facility will allow Acleda to expand its 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," she said. Endit