PRASAC Microfinance Institution (PRASAC) started operating in 1995 as an EU-funded project to facilitate rural development programs in six provinces in Cambodia. In 2007, PRASAC completed its transformation to a licensed MFI. The Company utilizes both the group lending methodology (up to 10% of the portfolio) and the individual lending methodology (~90%). In addition, PRASAC also provides some loans to SMEs. PRASAC operates in all 24 provinces in the country through its network of branches, sub-branches and service posts (smaller localized branches).