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Amret Microfinance Institution

#35BA, Street 169, Sangkat Veal Vong
7 Makara
Phnom Penh
Cambodia

Contact: Chea Phalarin, General Manager
Phone: +855 (0)23 880 942
Fax: +855 (0)23 881 342
URL: www.amret.com.kh
Email: phalarin@amret.com.kh
Amret Microfinance Institution

Amret's mission is to provide a wide range of financial services to low income people as well as micro, small, and medium enterprises while achieving a high level of financial and social performance. In fulfilling this mission, Amret contributes to economic and social development and improves the living standards of the Cambodian population. As a private microfinance operation licensed by the National Bank of Cambodia, Amret borrows from commercial banks and other institutions such as the Calvert Foundation. By May 2009, Amret had loaned to 230,445 borrowers and had a loan portfolio of US$ 55.60 million.

Program

Amret products have been designed to meet its target clients in the local context. Amret presently offers the following Credit and Deposit products in both US Dollar and local currencies (Khmer Riel-KHR):

Client Population

85% of Cambodia's population of 14.65 million (2007) lives in rural areas, yet credit operations reach only a small fraction of the rural population. Amret works mainly with this sector. Their clients engage in various agricultural activities, handicrafts, small-scale trading, and services. In May 2009, Amret was present in 3,114 village associations in 14 of Cambodia's southernmost provinces. Women borrowers represent 83% of Amret's client base. Amret market share averages 30% in its operating areas and 80% of Amret's loans are used to finance agricultural activities.

Impact

Amret works with the underserved rural population in Cambodia. Although various loan funds exist in Cambodia, few are designed to serve such populations. Amret seeks to be accessible for those in need. Recently monthly interest rate is charged from 2.25 to 3.5% depending on loan size and type of currency. Amret has worked with over 230,445 customers, 83% of whom are women. They have established 4,091 operational villages in 74 districts and 14 provinces and loaned more than US$ 55.60 million. Amret gives people dignity to conduct their lives independently through the Village Association system and the financial resources to survive.

Story

Amret Microfinance Institution
Amret has enabled Chhoeng Sophal to farm much more successfully and to significantly raise her familyís standard of living.With Amretís help, Chhoeng Sophal and her husband are now the proud owners 18 acres (0.18Hectares) of land, 3 pigs, a larger house, a motorbike and 2 bicycles, and they are also sending two children to high school. Full Story

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