The Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg, recently informed MicroCapital that it is lending USD 1.2 million to Chamroeun Microfinance. Chamroeun was launched in 2006 as a nonprofit by French NGO Entrepreneurs du Monde to deliver loans, savings, and microinsurance to poor people in the city of Phnom Penh. The institution has since
Tag: Cambodia
MICROCAPITAL BRIEF: Hattha Kaksekar Limited (HKL) Approved to Issue $20m in Bonds to Support Microfinance in Cambodia
Having received approval from the Securities and Exchange Commission of Cambodia, Hattha Kaksekar Limited (HKL), a Cambodian microfinance institution, is set to become the first company in the country to issue corporate bonds. The initial offering will be for KHR 80 billion (USD 19.7 million) with
MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Loans $1.6m to Hattha Kaksekar Limited of Cambodia, $1.2m to Sri Lanka’s VisionFund Lanka
The Grameen Credit Agricole Microfinance Foundation (GCAMF), a Luxembourg-based provider of financial services to microfinance institutions (MFIs) and other social businesses, recently informed MicroCapital that it has issued the following two loans: (1) EUR 1.5 million (USD 1.6 million) to Hattha Kaksekar Limited (HKL), an MFI based in Cambodia that was founded in 1994 by Organisation Canadienne pour la Solidarite et le Developpement (OCSD) and Oxfam International; and (2) EUR 1.1 million (USD 1.2 million) to VisionFund Lanka, a unit of US-based VisionFund, which offers financial services to families living in poverty in the developing world through a network of MFIs in 36 countries.