Norfund has increased its investments in the microfinance institutions Hattha Kaksekar and Sathapana in Cambodia.
Hattha Kaksekar Limited (HKL) is the fourth largest Microfinance Institution (MFI) in Cambodia. Norfund participates in a capital increase of USD 6 million of which Norfund’s share is USD 1.4 million Since Norfund’s first investment in 2007, HKL’s loan book has grown from USD 14 million to the current level of USD 140 million (as of Dec 2013).
Sathapana Limited is the third largest MFI in Cambodia. Norfund has signed a new USD 7 million loan with Sathapana, to help them expand its credit operation. Currently, Sathapana has USD 180 million in loan assets and around 79 000 borrowers, of which 60% are female micro and small business borrowers.