ADB will extend a senior loan of up to $75 million to ACLEDA Bank Plc.
|Project Name||Loan to ACLEDA Bank Plc for Promoting Financial Inclusion|
|Borrower/Company||ACLEDA BANK PLC
Lao People's Democratic Republic
|Type or Modality of Assistance||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Private sector development
|Sector / Subsector||
Finance / Banking systems and nonbank financial institutions - Inclusive finance - Small and medium enterprise finance and leasing
|Gender Equity and Mainstreaming||Effective gender mainstreaming|
|Responsible ADB Department||Private Sector Operations Department|
|Responsible ADB Division||Portfolio Management Division, PSOD|
|Responsible ADB Officer||Doukidis, Doukas|
|Description||ADB will extend a senior loan of up to $75 million to ACLEDA Bank Plc.|
|Objectives and Scope||The ADB loan will make a meaningful contribution to the bank''s growth and support of MSMEs. The proceeds of the loan will be used exclusively to support MSMEs. The assistance will enhance MSME access to longer-term finance, which is in turn critical to support poverty alleviation through income and employment generation.|
|Status of Development Objectives||MSMEs are very important to Cambodia's economy. Limited access to finance is one of the most critical challenges MSMEs face. Demand from MSMEs for financial services, including credit, remains high. As of June 2018, total MSME loans reached $2.40 billion, exceeding the outcome target of increasing ACLEDA's MSME loan portfolio by 50%. At the end of 2017, the number of MSME borrowers stood at 300,000. This compares to a baseline of 286,293 in 2013.|
|Status of Operation/Construction||ACLEDA Bank Plc is the largest bank in Cambodia with about 20% market share. It has a strong franchise and established presence in the country with 262 branches (as of September 2018).|
|Linkage to Country/Regional Strategy||The loan will complement ADB''s ongoing initiatives in the financial sector, as well as the government's 10 year rolling financial sector development strategy for 2011 -2020. The government strategy''s main goal is to develop a sound financial sector that can contribute to poverty reduction by supporting economic growth and giving lower-income people greater access to finance. ADB has been supporting government reform efforts since approving its first financial sector program for the country in 2001.|
|Summary of Environmental and Social Aspects|
|Environmental Aspects||The loan is classified as category FI for impacts on the environment. Subprojects classified as category A for impacts on the environment will not be financed under ADB's loan. ACLEDA Bank Plc will apply ADB's prohibited investment activities list, ensure that loans extended using ADB funds abide by applicable national laws and regulations, comply with ADB's Safeguard Policy Statement (2009), and establish and maintain an appropriate environmental and social management system satisfactory to ADB before disbursement.|
|Involuntary Resettlement||The loan is classified as category FI treated as C for involuntary resettlement.|
|Indigenous Peoples||The loan is classified as category FI treated as C for indigenous peoples.|
|Stakeholder Communication, Participation, and Consultation|
|Timetable for assistance design, processing and implementation|
|Concept Clearance||26 Aug 2013|
|Credit Committee Meeting||06 Nov 2013|
|Approval||12 Dec 2013|
|PDS Creation Date||26 Feb 2014|
|Last PDS Update||22 Mar 2019|
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
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|Title||Document Type||Document Date|
|Senior Loan - ACLEDA Bank Plc. for Promoting Financial Inclusion: Extended Annual Review Report||Completion Reports||Sep 2017|
|CAM: ACLEDA Bank Plc Promoting Financial Inclusion: Project Data Sheet (Khmer Translation)||Translated PDS||Mar 2014|
|ACLEDA Bank Plc - Promoting Financial Inclusion in Cambodia||Initial Poverty and Social Analysis||Feb 2014|
|Proposed Senior Loan to ACLEDA Bank Plc - Promoting Financial Inclusion in Cambodia||Reports and Recommendations of the President||Nov 2013|
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
None currently available.
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