MicroCapital.Org
Posted by Kristha Abores
The United States Agency for International Development (USAID) has signed a four-year agreement to provide a 50-percent guarantee on a loan of up to USD 2.71 million for Cambodian microfinance institution Thaneakea Phum (Cambodia) Limited (TPC). Sok Voeun, TPC’s chief operations officer, reportedly said that USAID “will support us in providing more loans to the agriculture sectors in the four provinces” referring to Kampong Thom, Pursat, Battambang and Siem Reap.
TPC was launched in 1994 in Cambodia as part of the Small Enterprise Development program of US-based nonprofit organization Catholic Relief Services (CRS). In 2002, the initiative was incorporated as a limited liability company and given the name Thaneakea Phum (Cambodia) Limited. In 2003, TPC received its license from the National Bank of Cambodia to operate officially as a microfinance institution. As of December 2010, TPC reported to US-based data provider Microfinance Information Exchange (MIX) return on assets (ROA) of 2.78 percent and return on equity (ROE) of 14.7 percent. As of September 30, 2011, it reported to MIX a gross loan portfolio of USD 29.2 million and 91,033 active borrowers.
By Kristha Abores, Research Associate
About United States Agency for International Development (USAID): The United States Agency for International Development (USAID) is a government agency that provides international economic and humanitarian assistance. It focuses on areas such as economic growth, agriculture, trade, health, democracy, conflict prevention and humanitarian assistance. Under the Development Credit Authority (DCA), it provides credit guarantees that cover up to 50 percent of defaults on wholesale loans made by private financial institutions to institutions that lend on a retail basis to underserved borrowers. USAID had a total of USD 23.8 billion in budgetary resources in 2011.
About Thaneakea Phum (Cambodia) Limited (TPC): TPC was launched in 1994 in Cambodia as part of the Small Enterprise Development program of US-based nonprofit organization Catholic Relief Services (CRS). In 2002, the initiative was incorporated as a limited liability company and given the name Thaneakea Phum (Cambodia) Limited. In 2003, TPC received its license from the National Bank of Cambodia to operate as an official microfinance institution. As of September 30, 2011, it reported to US-based data provider Microfinance Information Exchange (MIX) a gross loan portfolio of USD 29.2 million and 91,033 active borrowers. As of December 2010, it reported to MIX return on assets (ROA) of 2.78 percent and return on equity (ROE) of 14.7 percent.
Sources and Additional Resources:
[1] The Phnom Penh Post: “USAID injects cash in MFI,” http://www.phnompenhpost.com/index.php/2012013054210/Business/usaid-inje…
MicroCapital.org article, January 3, 2011, “MICROCAPITAL BRIEF: Grameen Credit Agricole Microfinance Foundation Makes $1.8m Local-Currency Loan to Koperasi Mitra Dhuafa (Komida) of Indonesia and Thaneakea Phum Cambodia (TPC), Chamroeun Microfinance of Cambodia,”http://www.microcapital.org/microcapital-brief-grameen-credit-agricole-m…
MicroCapital.org article, June 27, 2011, “MICROCAPITAL BRIEF: USAID, VEGA/IESC Announce Second Phase of “Lebanon Investment in Microfinance” Program,” http://www.microcapital.org/microcapital-brief-usaid-vegaiesc-announce-s…
MicroCapital Universe Profile: United States Agency for International Development (USAID), http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Uni…
MicroCapital Universe Profile: Thaneakea Phum (Cambodia) Limited (TPC), http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tha…
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