Baar-Zug, Switzerland, July 21, 2023
Blue Earth Capital, through its investment vehicles, has completed a USD $ 8 million follow-on direct credit investment into First Finance PLC (“First Finance” or “the Company”). First Finance offers home loans to low- and middle-income Cambodians who have little-to-no access to formal housing finance.
The investment seeks to expand First Finance’s work in addressing Cambodia’s pressing affordable housing shortage. Two out of three people in Cambodia’s population of 16 million continue to lack access to decent housing, with over two million houses in the country in need of improvement to meet minimum quality standards. 
A growing population and rapid urbanization continue to exacerbate the lack of access to sufficient, high quality and affordable housing supply. To address this pressing issue, First Finance works to improve the lives of underserved Cambodians by offering affordable, transparent, and appropriately structured housing finance to low- and middle-income households, allowing them to step on the property ladder.
The Company’s loans are used for the purchase of residential homes, home improvement, and purchases of land. This enables borrowers to substantially improve their living conditions, build stable wealth, enjoy social security, and improve physical health. First Finance’s strong commitment to its social mission is reflected in its client base: 61% of borrowers are first-time homeowners, 73% are women, and 47% of clients live in rural areas.
Blue Earth Capital’s direct credit investment will allow First Finance to expand its loan book and reach more low- and middle-income families.
Amy Wang, Head of Private Credit at Blue Earth Capital, stated: “We are excited to continue supporting First Finance, who have been a strong partner delivering demonstrable social outcomes throughout different market conditions. Since our initial investment, the business has doubled client outreach to over 3,200 clients today. Today’s financing arrangement is a vote of confidence in the company and its ability to deliver further success in access to homeownership and living standards.”
Senacheert Sim, CEO of First Finance, said: “This loan will support First Finance to expand its operations responding to the market needs. First Finance is committed to provide affordable housing finance to low- and middle-income households in Cambodia. We remain committed to this mission. We are delighted to continue our collaboration with Blue Earth Capital as a key funding partner. It is a pleasure to partner with an institution that shares our belief in utilizing commercial capital to tackle critical social issues such as affordable housing. We look forward to continuing a long and fruitful partnership with Blue Earth Capital”.
About First Finance
First Finance Plc is a regulated financial institution specializing in affordable housing finance in Cambodia. The Company has spent over a decade building its market leading position as a dedicated housing finance business focused on underserved low and middle-income households. First Finance’s mission is to build the economic stability by increasing access to home ownership through the provision of finance. The Company provides households with long-term home loans and home improvement loans, and medium-term home equity loans specific to their needs. First Finance is headquartered in Phnom Penh and has over 14 branches covering 17 provinces.
About Blue Earth Capital
Blue Earth Capital is a global, independent, specialist impact investor, headquartered in Switzerland, with operations in New York, London, and Konstanz. Blue Earth Capital seeks to address the world’s most pressing social and environmental challenges by delivering measurable impact alongside aiming for attractive and sustainable financial returns. The company operates dedicated private equity, private credit and fund solutions. Blue Earth Capital is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures to help deliver a more equitable and sustainable future.
 Habitat for Humanity Cambodia (2018).