On 27 September 2024, Credit Guarantee Corporation of Cambodia (CGCC) organized the “Appointment and Transfer Ceremony of CEO of CGCC”, presided over by H.E. Ros Seilava, Secretary of State of the Ministry of Economy and Finance (MEF), Chairman of CGCC, and honorable presence of the members of Board of Directors (BoDs) of CGCC, local and international partners, financial institutions, business associations, and related stakeholders approximately​ more than 100 participants at the Oakwood Premier Phnom Penh.

This ceremony marked Mr. Wong Keet Loong‘s official farewell and the announcement of CGCC’s new CEO. It was organized to express CGCC’s gratitude for Mr. Wong’s participation in establishing and leading CGCC as the CEO and an opportunity to express his appreciation for related stakeholders’ support and collaboration during his tenure, and also to officially announce the appointment and transfer of the CEO of CGCC through the Sub-Decree No. 872 ANKR.TT, highly approved by Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of the Kingdom of Cambodia, with the recommendation from H.E. Akka Pundit Sopheacha Aun Pornmoniroth, Deputy Prime Minister, Minister of MEF, to appoint Mr. No Lida to be the CEO of CGCC, a key person in the development of CGCC and leading CGCC as the deputy CEO in the last 4 years, and previously served at the MEF for more than 10 years with full of experiences and capacity to continue leading CGCC.

Through this ceremony, CGCC also officially launched the “Sustainable Green Financing Facility (SGFF),” a blended financing model developed in collaboration between CGCC and the United Nations Development Program (UNDP), which will enable development partners and Participating Financial Institutions (PFIs) to establish a blended financing facility with CGCC to provide financing to green sector investments in favorable terms to support the Sustainable Development Goals (SDG). The launching ceremony was highly witnessed by H.E. Chairman and members of the BoDs of CGCC, Mr. Shakeel Ahmad, Deputy Country Representative of UNDP, and CEO of CGCC.

H.E. Ros Seilava mentioned, “The success and growth of CGCC so far have not come by chance; it has come from the professional roles, responsibilities, and commitment of all CGCC management and staffs at all levels, especially the support from good cooperation of all stakeholders, including the government institutions, development partners, associations, participating financial institutions, and SMEs.”

Mr. Wong Keet Loong remarks, “I’m honored to have the opportunity to lead CGCC from its inception to where it is today. CGCC has achieved many milestones, from being the first credit guarantee and bond guarantee institution in Cambodia. It will continue to play a critical role in developing the growth of MSMEs by improving financial access and financial literacy.”

Mr. No Lida mentioned, “I am deeply honored to have earned the trust of the Board of Directors of CGCC, the Deputy Prime Minister, Minister of Economy and Finance, and most importantly, Samdech Moha Borvor Thipadei, HUN MANET, Prime Minister of Cambodia, who appointed me as the CEO of CGCC. I am fully committed to doing my best for CGCC. I will utilize all my abilities to bring CGCC forward as a merit and principle-based institution and always uphold CGCC’s core values of TRUSTS – Trustworthy, Responsible, United, Sustainable, Transparent, and State Policy-Oriented.”

CGCC was incorporated in November 2020 and launched the first credit guarantee scheme on 29 March 2021. As of the end of August 2024, CGCC had approved 2,678 guaranteed accounts on guaranteed loans amounting to approximately USD 225 million.

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