Since 2021, IFC supported Cambodia’s banking sector through multiple investments in ACLEDA Bank Plc., Hattha Bank Plc. (HTB), and the financial intermediary North Haven Thai Private Equity Fund L.P., which includes ACLEDA as one of its subprojects. These investments aimed to strengthen financial institutions and expand access to finance for micro, small, and medium enterprises (MSMEs), including women-owned MSMEs (WMSMEs). They also sought to reinforce the banks’ capital base, promote digitalization, and enhance financial inclusion to support economic recovery and income generation.

In June 2025, CAO received a complaint from the Cambodian League for the Promotion and Defense of Human Rights (LICADHO) on behalf of clients of ACLEDA Bank Plc. and Hattha Bank Plc. (HTB). The complaint raised concerns about potential harm caused by the banks’ microfinance lending practices. The complainants reported negative impacts on their livelihoods, food security, and health due to growing debt burdens and alleged threats and intimidation by bank employees during loan collection. They further stated that, under pressure from bank officers, they borrowed from both formal and informal lenders to repay existing loans, which increased their overall debt burden. The complainants also reported that local grievance mechanisms were ineffective.

In August 2025, CAO found the complaint eligible and initiated an assessment.  The assessment process is ongoing.