VisionFund Cambodia was recognized as one of the top microfinance institutions in Cambodia by Microfinance Information Exchange (MIX) in their annual national listing for 2012. As a result of VFC’s ‘best-in-class’ practices and commitment, it has been awarded 5 diamonds – the highest rank in class.
From extensive information shared by all microfinance institution (MFI) members, MIX records all MFIs’ portfolio performance against key financial, social, and operational performance indicators and monitor their customer portfolio, identify strengths and weaknesses among MFIs in the region and in the world, and utilize powerful benchmarking and aggregation tools in MIX premium’s Portfolio Reporting tool.
The information shared on MIX also reflects on the performance transparency of the MFIs among which VisionFund Cambodia has no hesitation to reveal and share their portfolio and key financial figures and other information to this international network. As a result of such commitment toward this best practice, VisionFund Cambodia has been granted 5 diamonds which is the highest rank in class.
This distinction adds to the growing list of recognitions, VisionFund Cambodia has received after almost a decade in the region. VisionFund has been honored with numerous awards and recognition by international organizations including the Consultative Group to Assist the Poor (CGAP), the United Nations Development, as well as other rating agencies for its social performance and financial transparency.
Commenting on this landmark achievement, Chief Executive Officer of VisionFund Cambodia, Chee Chin Hoe said:
“We appreciate this recognition from MIX, which demonstrates how far we have come as an institution. VisionFund Cambodia has and continues to apply a great deal of discipline around our monitoring, efficiency and disclosure performance.”
“Cambodia is considered as one of the world’s best-regulated microfinance environments, and as the only MFI in Cambodia with the widest international network and the largest microfinance institution of VisionFund International, I am proud to say that VisionFund Cambodia is a ‘well-cut diamond of the microfinance scene’.”
By end of December 2012, VisionFund Cambodia has attained a good loan portfolio of US$48 million with more than 150,000 clients; impacting over 530,000 children across 20 provinces.
For more information on MIX Market and Rating, please visit http://www.mixmarket.org/mfi/country/Cambodia