Phnom Penh, Cambodia, 9 August 2024– KB PRASAC Bank is pleased to announce the signing of a Memorandum of Understanding (MoU) with the Ministry of Labor and Vocational Training to offer unsecured loans to workers and trainees recognized by the Ministry of Labor and Vocational Training who aspire to work overseas. This collaboration aims to support individuals who need financial assistance during the documentation process required for overseas employment.
The signing ceremony was highly graced by Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia.
The unsecured loans will provide much-needed financial support to workers and trainees, ensuring they can cover the costs associated with preparing documents and other necessary expenses for working abroad. With a maximum loan amount of USD 5,000, an affordable interest rate of 8.5% per annum, and a loan term of up to 24 months, these loans are designed to be accessible and beneficial for those in need.
Mr. OUM Sam Oeun, President and CEO of KB PRASAC Bank, commented on the new initiative, saying, “We are committed to empowering the workforce and trainees of our nation. By providing these unsecured loans, we aim to remove the financial barriers that often hinder individuals from pursuing opportunities abroad. This partnership with the Ministry of Labor and Vocational Training reflects our dedication to supporting the economic growth and development.”
Workers and trainees who are recognized by the Ministry of Labor and wish to apply for an unsecured loan to support their journey to work abroad are encouraged to visit any KB PRASAC Bank branch for more details on how to apply or call 086 999 911 or 023 999 911.
