Status Update - April 14, 2012
Kiva and Angkor Microfinance Kampuchea (AMK) have agreed to end their partnership after four years of collaboration (see status update from June 8, 2011). Kiva is undefaulting $28,874 in loans next month after receiving final payments from AMK covering this amount. In the meantime, a system error is causing the organization's default rate to appear as 100%. The default rate should return to 0% once all funds settle out mid-May. AMK's final loans with Kiva have ended, and the partnership is now officially closed. 

Partner Description (Original Language from AMK):

AMK is a leading microfinance institution in Cambodia operating in over 6,000 villages with over 220,000 clients. AMK is the first microfinance institution to have operations in every province in Cambodia and they work in nearly half of all villages in Cambodia. The focus of AMK is on very poor clients in rural areas which is demonstrated in the average loan size of just $115.

AMK’s Mission:

"To help large numbers of poor people to improve their livelihood options through the delivery of appropriate and viable microfinance services."

AMK's Guiding Principles:

1. AMK provides microfinance services to poor people in Cambodia that are grounded in sound financial discipline at all levels.

2. AMK is committed to openness and transparency in all areas of management and operations.

3. AMK is committed to developing processes/services and to adopting behaviors and standards that ensure optimum social performance, including client protection.

4. AMK is a learning organization where appropriate exchange and sharing of information will contribute to staff development, training, and policy and systems improvements.

AMK's Code of Practice for Client Protection:

1. Maximize the inclusion of the poor and other marginalized populations who meet AMK's other criteria for selection.

2. Minimize the exposure of (poor) clients to financial products that may prove harmful if they promote over-indebtedness.

3. Provide complete information to clients about policies and procedures, and ensure complete transparency in transactions.

4. Facilitate and promote complete freedom of choice to clients.

5. Ensure appropriate and respectful behavior of staff and management towards clients.

AMK has received numerous prestigious awards and recognitions:

1. MFI Gold Certificate Award for Transparency in Social Performance Reporting presented by TheMIX and CGAP.

2. In 2008, AMK was recognized by the National bank of Cambodia with an award for its contribution to enhance financial services outreach throughout Cambodia.

3. Runner up in the 2008 European Microfinance Awards.

4. Ranked as the Highest Microfinance Institute in Cambodia and in the Top 20 in the world in the 2006, 2007 and 2008 MIX Global 100 Composite Rankings based on outreach, efficiency and transparency.

5. CGAP Global Financial Transparency Award in 2005 and 2006.

6. Unitus Effectiveness Award

AMK is endorsed by Microfinance Transparency.

Status Update - July 29, 2011
On July 27, 2011, Kiva received a full repayment for AMK's outstanding arrears. These funds, totaling $172,221, were applied to corresponding lender accounts, and full repayment on all applicable loans made.
AMK currently has $0 in loans on Kiva currently in arrears, out of a total outstanding portfolio of $1,007,228. As a result, its delinquency rate as expressed on the Kiva website is currently 0.00%.

Status Update - June 8, 2011
AMK (Angkor Microfinance Kampuchea) has been a partner of Kiva's for thirty-nine months, successfully paying back $4,867,900 in loans since the partnership began in February of 2008.  
AMK has decided to close its relationship with Kiva.  AMK received a Micro Deposit Institution (MDI) license from the National Bank of Cambodia in 2010, which has allowed the organization to concentrate its efforts on building up a local currency deposit base to support their lending.  This has reduced AMK's need on dollar-denominated sources of capital, such as Kiva provides.
AMK is also focusing on securing KHR denominated debt financing, since approximately 95% of AMK’s portfolio is denominated in the local Khmer Riel (KHR) currency.  This will also allow the organization to avoid the currency risk inherent to dollar-denominated debt.
There are $1,383,262 in current outstanding loans; as repayments come in from these borrowers, those funds will also be paid back to lenders.  AMK currently has $54,978 in loans on Kiva currently in arrears, out of the total outstanding portfolio of $1,383,262. As a result, its delinquency rate as expressed on the Kiva website is currently 3.97%.  As additional payments are received from AMK, the delinquency ratio expressed on the Kiva website should fall to a rate that reflects the amount that borrowers have yet to repay.
We'd like to thank Kiva lenders for their support of AMK borrowers over the last 39 months. $7,122,575 has been raised for AMK borrowers with the help of the Kiva community. Many thanks for your continued support!
Status Update - July 2, 2010 

On July 1, 2010, AMK's reported delinquency rate increased from 0% to 42.35%. 

Due to technical reasons, AMK's repayments did not post properly to Kiva this month. We're working with AMK's administrative staff to make sure they are able to successfully upload repayments to the site, and hope to have the issue fixed within the next week or two. 

Once the repayments have been properly uploaded, then the high delinquency ratio expressed on the Kiva website for AMK should fall to normal levels. 

Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Feb 18, 2008 Oct 12, 2005
Total Loans $7,122,575 $1,959,307,040
Amount of raised Inactive loans $0 $222,235
Number of raised Inactive loans 0 190
Amount of Paying Back Loans $0 $161,570,650
Number of Paying Back Loans 0 189,208
Amount of Ended Loans $7,122,575 $1,768,476,020
Number of Ended Loans 7,821 2,370,357
Delinquency Rate 0.00% 12.09%
Amount in Arrears $0 $12,154,807
Outstanding Portfolio ($0) $100,506,286
Number of Loans Delinquent 0 72,423
Default Rate 0.00% 1.83%
Amount of Ended Loans Defaulted $0 $32,355,409
Number of Ended Loans Defaulted 0 84,925
Currency Exchange Loss Rate 0.00% 0.50%
Amount of Currency Exchange Loss $0 $12,005,888
Refund Rate 0.21% 0.54%
Amount of Refunded Loans $15,200 $10,526,300
Number of Refunded Loans 13 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 85.23% 78.24%
Average Loan Size $168 $392
Average Individual Loan Size $414 $589
Average Group Loan Size $1,586 $1,892
Average number of borrowers per group 11.4 8.3
Average GDP per capita (PPP) in local country $2,600 $5,600
Average Loan Size / GDP per capita (PPP) 6.46% 7.00%
Average Time to Fund a Loan 5.39 days 8.93 days
Average Dollars Raised Per Day Per Loan $31.13 $43.86
  Average Loan Term 12.14 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 540 1,178,731
  Journaling Rate 5.54% 42.24%
  Average Number of Comments Per Journal 0.14 0.02
  Average Number of Recommendations Per Journal 3.21 0.57

Borrowing Cost Comparison (based on 2009 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A 30.00% PY 27.02% PY
  Profitability (return on assets) N/A 4.6% -3.10%
  Average Loan Size (% of per capita income) N/A 184.00% 0.00%

Country Fast Facts

Lending Partner Staff

Sanjaya Punyasena