AMK Microfinance Receives Truelift Leader Milestone

© Philippe Lissac

Truelift recognized the pro-poor performance of AMK Microfinance Institution Plc, a partner of the Grameen Crédit Agricole Foundation in Cambodia, at the Leader Milestone. This brings to 33 the number of financial service providers recognized along the Truelift Pro-Poor Pathway and to seven the number recognized at the Leader Milestone, the most advanced of the four milestones. What all the recognized institutions have in common is their commitment to meeting the needs of people living in poverty. Their degree of adherence to the three pro-poor principles demonstrates how far these institutions have progressed toward managing to serve the poor.

AMK began as a Concern Worldwide program in the 1990s before becoming a full-fledged microfinance institution in 2004. The institution offers group (village bank) and individual loans, savings services, money transfers, health microinsurance, payment and payroll services, foreign exchange services, and international remittances. It employs more than 2,700 people in 150 offices and works with more than 3,700 independent agents across the country. AMK has more than 840,000 clients with a loan portfolio of more than $247 million and deposits of more than $146 million, making it one of the leading microfinance institutions in Cambodia.

For over 15 years, AMK has continued to grow by focusing on developing its financial products and services and investing in new technologies to meet customer demand. At the same time, AMK has remained committed to its social objectives, particularly poverty reduction, as evidenced by the results of the Truelift assessment conducted by M-CRIL in November 2018. By providing appropriate and sustainable microfinance services over the past 15 years, AMK has helped its clients and their families, particularly those living in remote areas, achieve significant positive changes.