The Cambodia Microfinance Association (CMA) and the Credit Guarantee Corporation of Cambodia (CGCC) have officially signed a Memorandum of Understanding (MoU) to collaborate on promoting sustainable financial inclusion across Cambodia.

This official partnership was announced during the CGCC Annual Seminar on “Innovation of Credit Guarantee to Promote Green Financing” held here on Jan. 23 under the presidency of Ros Seilava, Secretary of State at the Ministry of Economy and Finance and Chairman of CGCC.

According to a joint press release, AKP received this morning, this strategic partnership aims to foster the growth of banking and financial institutions (BFIs) and support micro, small, and medium enterprises (MSMEs) through capacity development, digital financial services, and enhanced financial literacy.

Under the MoU, CMA and CGCC will collaborate to strengthen and develop the capacity of MSMEs, BFIs, and stakeholders through training, workshops, seminars, and research studies.

This partnership will also focus on advancing financial literacy and digital finance and promoting the development of green finance in Cambodia. Both organisations are committed to leveraging their resources to ensure the successful implementation of various initiatives to boost the financial sector’s contribution to the country’s economic development.

Oknha Hout Ieng Tong, a CMA representative, said this partnership marks a significant step toward advancing financial inclusion in Cambodia.

“By combining our expertise and resources, we can create a more robust financial ecosystem that supports the growth of MSMEs and contributes to the country’s sustainable development,” he said.

No Lida, CGCC’S Chief Executive Officer, said that there are opportunities for CGCC, CMA, and CMA’s members to use credit guarantees to increase lending to underserved businesses across the country.

“This MoU is a testament to our shared commitment to fostering economic growth and sustainability in Cambodia,” he said.

The MoU is effective for three years from the date of signing and outlines a framework for cooperation in achieving the shared objectives.

Both parties are dedicated to ensuring the confidentiality of shared information and successfully executing agreed initiatives. AKP

Credit to: Khmer Times, Published on 24 January 2025