AMK Microfinance Institution Plc. on Friday invested US$1 million in the Techo International Airport Guaranteed Bond through private placement, becoming the first MFI in Cambodia in the airport development.

The funds raised from Techo International Airport Guaranteed Bond will be used for the construction and development of Techo International Airport in Kandal province.

The coupon rate of CAIC bond is 5.5 percent per annum with three-year tenor and guaranteed by OCIC.

Mr. Kea Borann, CEO of AMK Microfinance Institution Plc., said that AMK is proud to be the first microfinance institution to invest in the Techo International Airport Guaranteed Bond and support the development of this project, which will drive the economic growth and development in Cambodia.

CAIC is a joint venture between the Royal Government of Cambodia (RGC) represented by the State Secretariat of Civil Aviation and OCIC, a largest investment group and local conglomerate in Cambodia.

The RGC has granted CAIC the rights to own, design, construct, finance, operate, maintain and manage Techo International Airport Project.

AMK is one of Cambodia’s leading MFIs in terms of outreach. AMK has 150 operating branches, and nearly 7,000 agents nationwide.

Source: Agency Kampuchea Press