BIO, a government-owned institution also known as the Belgian Investment Company for Developing Countries, recently loaned USD 15 million to Cambodia’s Angkor Microheranhvatho Kampuchea (AMK). AMK provides individuals as well as micro-, small and medium-sized enterprises with savings, loans, leasing, microinsurance, money transfers, a mobile banking app and access to automated teller machines (ATMs).
Licensed by the National Bank of Cambodia since 2004, AMK’s mission is “to provide a range of responsible financial services to our clients from varying economic segments, particularly low-income households and women, to help them to achieve their financial and household aspirations.”
As of May 2023, the institution has 151 offices and 894,000 clients. As of December 2022, it reports total assets of KHR 2.9 billion (USD 708 million).
BIO was founded in 2001 and seeks “to support a strong private sector in developing and emerging countries, to enable them to gain access to growth and sustainable development” consistent with the UN’s Sustainable Development Goals (SDGs). Per its 2022 annual report, BIO has total assets of EUR 1.1 billion (USD 1.2 billion) and outstanding investments of EUR 508 million (USD 639 million).
By Elva Montelongo, Research Associate
Sources and Additional Sources
BIO press release
https://www.bio-invest.be/en/investments/amk-microfinance
AMK homepage
https://www.amkcambodia.com/
AMK financials
https://www.amkcambodia.com/en/financial-info-2-2/
BIO annual report
https://www.bio-invest.be/en/annual-report
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