Cambodia’s largest micro financier boosts green farming
Cambodian microfinance institution PRASAC MFI Ltd says it is bolstering its green credentials by increasing loans for eco-friendly farming methods in the kingdom.
Sim Senacheert, President and CEO of PRASAC, said the institution is “committed to providing and developing more green financing to the rural people for their livelihood improvement and environmental protection in particular”.
PRASAC said it is particularly proud of its recent initiative to provide a biodigester financing program. Biodigestion is the process of managing biodegradable waste and turning it into energy.
By the end of April, PRASAC said it had provided biodigester loans to roughly 5,800 borrowers in 13 provinces, with a loan portfolio of more than USD3 million.
PRASAC currently is the largest microfinance institution in Cambodia, and provides loans and savings to clients in 24 provinces and cities.As of April, PRASAC said it has provided loans to 117,000 borrowers with more than USD158 million of loans. It had 48,000 depositors with more than USD12 million in savings.