May 28, 2022
USD 50 Million Facility Signing Ceremony
Phnom Penh: November 25, 2021, Amret PLC held a signing ceremony for US$50 million loan facility with FMO – Entrepreneur Development Bank, a Dutch development bank that supports sustainable private sector growth in developing and emerging markets by investing in businesses, projects, and financial institutions.
The signing ceremony was held online with the participation of Mr. Dos Dinn, CEO of Amret MFI and Ms. Fatoumata Bouaré, Chief Risk and Finance Officer/Management Board Member of FMO, along with other senior management staff from both institutions.
Mr. Dos Dinn remarked, “FMO has been one of our key shareholders and cooperative partners for more than 15 years in supporting Amret’s development. Today's event is an essential milestone that demonstrates the strong cooperation between Amret MFI and FMO. With this US$50 million facility, Amret will continue to provide financial solutions to support the agricultural sector; especially to budding women entrepreneurs through Amret’s innovative Women Entrepreneur Loan.
Amret is a leading financial institution in Cambodia. A full subsidiary of the Advans Group, its reputable international shareholders include FMO Entrepreneurial Development Bank, La Fayette Participations and International Financial Corporation (IFC), a member of the World Bank.
As well as catering to the Kingdom's micro, small and medium-sized enterprises (MSMEs), Amret MFI also offers a wide range of financial products and services to Cambodia's unbanked and underbanked. A leading microfinance institution in Cambodia, Amret provides both lending and deposit products to more than 500,000 clients, who range from low-income farmers to MSMEs. With 156 branches nationwide, it employs more than 4,500 people. Amret has assets of more than $1 billion and deposits exceeding $500 million.