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IFC mulls investment of $15M in BRED Bank

IFC mulls investment of $15M in BRED Bank

The International Finance Corporation (IFC), the private lending arm of the World Bank, is considering investing up to $15 million to take an up to 20 percent stake in BRED Bank (Cambodia) Plc, according to online business intelligence platform DealStreetAsia.

According to the report yesterday, the IFC capital would help BRED Bank provide access to finance for small- to medium-sized enterprises (SMEs) through the bank’s targeted products and services. In turn, BRED Bank would work to help mobilise deposits from its customers. BRED Bank is part of the second-largest banking group in France and officially launched operations in the Kingdom earlier this year.

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