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» New Microfinance Institution Opens as Demand Rises

ORO Financecorp Plc. held its official launch last Friday. They started providing business, agricultural and tractor loans with a $4 million capital investment from Seng Enterprise Co. Ltd. of Cambodia and Creed Asia Investment Ltd. Japan in January of this year.

 

"We will differentiate ourselves from other MFIs with new and creative products with fewer requirements and with competitive interest rates - rates that can compete in the market." Chet Kimchin, CEO of ORO Financecorp, shared during Friday's belated launch.With 43 microfinance institutions now operating in Cambodia, Bun Mony, President of the Cambodia Microfinance Association, says there is still room for more.

 

"More MFIs mean more capital for the economy's improvement. More Japanese investors coming into Cambodia reflect their confidence on Cambodia's economy," he remarks.

 


News source: b2b-cambodia.com


 

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