fbpx 50292-001: Expanding Micro, Small, and Medium-Sized Enterprise Lending Project | Asian Development Bank

Cambodia: Expanding Micro, Small, and Medium-Sized Enterprise Lending Project

Nonsovereign (Private) Project | 50292-001 Status: Approved

Project Details

Project Officer
Bracey, Pamela Private Sector Operations Department Request for information
Country
  • Cambodia
Sector
  • Finance
 
Project Name Expanding Micro, Small, and Medium-Sized Enterprise Lending Project
Project Number 50292-001
Borrower/Company PRASAC Microfinance Institution Limited
Country Cambodia
Location Nation-wide
Type or Modality of Assistance
3681 Loan Ordinary capital resources USD 40.00 million Approved
Strategic Agendas Inclusive economic growth
Drivers of Change Private sector development
Sector / Subsector

Finance / Inclusive finance

Gender Equity and Mainstreaming Gender equity
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Financial Institutions Division
Responsible ADB Officer Bracey, Pamela
Project Sponsor(s)
Description
Objectives and Scope ADB supports the growth of PRASAC's financing portfolio for micro, small, and medium-sized enterprises (MSMEs), providing needed financial products and services to this underserved segment.
Linkage to Country/Regional Strategy ADB's Midterm Review of Strategy 2020 emphasizes ADB's support for the financial sector by helping to develop financial infrastructure, institutions, and products and services. The transaction will contribute to financial sector development by supporting an investment that promotes more inclusive economic growth by fostering MSMEs through enhanced access to long-term finance.
Safeguard Categories
Environment FI
Involuntary Resettlement FI
Indigenous Peoples FI
Summary of Environmental and Social Aspects
Environmental Aspects The ESMS of PRASAC is currently aligned with the International Finance Corporation (IFC) requirements for financial intermediaries. The bank's policy statement endeavors to effectively manage the environmental and social impacts of all its activities, products and services. It is committed to ensure that activities (from design to maintenance of a financed project) is undertaken in accordance with all applicable national laws on environment, social, health, safety, and any established standards. PRASAC will amend its ESMS to comply with ADB's Safeguard Policy Statement and will apply ADB's prohibited investment activities list. Pursuant to ADB's Social Protection Strategy, PRASAC will also take measures to comply with internationally recognized core labor standards.
Involuntary Resettlement There is no anticipated involuntary resettlement impact based on the exclusion list.
Indigenous Peoples The project is not expected to entail any significant impact on indigenous peoples.
Stakeholder Communication, Participation, and Consultation The project's primary stakeholders are MSMEs in Cambodia's rural and semi-urban areas. PRASAC has identified a large unbanked and underserved market in rural areas that can contribute to greater inclusion in productive economic activity if given access to their lending products. PRASAC has assessed the needs of these clients through market research and information outreach activities. PRASAC will continue to work with its clients and untapped markets to improve understanding of their needs and adapt products to serve them better.
Timetable for assistance design, processing and implementation
Concept Clearance 14 Sep 2016
Credit Committee Meeting 30 May 2018
Approval 17 Jul 2018
Last PDS Update 12 Jun 2019

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