On 23 March 2023 at 2:00pm, CGCC organized the 13th Board of Directors Meeting at CGCC’s Head Office under the chairmanship of H.E. Ros Seilava, Secretary of State of the Ministry of Economy and Finance, and Chairman of CGCC’s Board of Directors, with the presence of members of the Board of Directors and the state controller.
The agendas of this 13th Board of Directors Meeting included: (1) CGCC Progress Report, (2) PFIs Application, (3) Bond Guarantee Framework, (4) Audited Financial Report for 2022, (5) Business Continuity Plan and Crisis Management Framework, and (6) Others.
CGCC’s Board of Directors Meeting is regularly organized to review, endorse, and approve CGCC’s activities and progress, especially the credit guarantee schemes, to ensure the transparency and efficiency of CGCC.
On 9th March 2023, Mr. Wong Keet Loong, CEO of CGCC, led CGCC team to discuss the procedures of bond issuance on the Cambodia Securities Exchange (CSX).
This meeting is to understand more about the procedures of bond issuance on CSX in order to draft the Policy Framework for Bond Guarantee to support the bond issuance of local companies as well as to support the development of the securities sector in Cambodia.
CGCC to Discuss the Procedures of Bond Issuance on the Cambodia Securities Exchange
On 7 March 2023 afternoon, Mr. Wong Keet Loong, CEO of CGCC, and all CGCC’s management and staff celebrated International Women’s Day by appreciating all CGCC’s female staff who have contributed significantly to CGCC’s smooth and successful operations. We are living in an era where there is active women’s participation with bravery and sacrifice in development. To show appreciation gesture, CGCC also handed gifts to all female staff.
CGCC Celebrated International Women’s DayCGCC Celebrated International Women’s Day
In addition, on 8 March 2023 morning, CGCC staff joined the celebration of International Women’s Day with the Association Banks of Cambodia (ABC), by donating blood to give hope to those in urgent need of blood.
CGCC Celebrated International Women’s DayCGCC Celebrated International Women’s Day
On 01 March 2023, CGCC’s team led by Mr. Wong Keet Loong, CEO of CGCC, is honored to witness and attend the Graduation Ceremony of 129 trainees of the “I’m Financially Literate (IFL)” program, initiated by Sathapana Bank, co-supported by CGCC to improve financial literacy for entrepreneurs’ business development and Cambodia’s economy.
Graduation Ceremony of 129 Trainees of the “I’m Financially Literate (IFL)” Program
In September 2022, IFL was launched in partnership with likeminded partners such as Credit Guarantee Corporation of Cambodia (CGCC), and 2 more partners. The program was aimed to promote and improve financial literacy for women entrepreneurs in SMEs and MSMEs by providing networking opportunities and training sessions in areas like project management, financial management, marketing, sales, and more.
Graduation Ceremony of 129 Trainees of the “I’m Financially Literate (IFL)” ProgramGraduation Ceremony of 129 Trainees of the “I’m Financially Literate (IFL)” Program
Through this program, CGCC is delighted to contribute to creating a community classroom where SMEs and MSMEs could come together to learn and networking, also sharing the best practice/experiences for capacity building and accelerated the long-term entrepreneurship conceptual & practical.
Graduation Ceremony of 129 Trainees of the “I’m Financially Literate (IFL)” ProgramGraduation Ceremony of 129 Trainees of the “I’m Financially Literate (IFL)” ProgramGraduation Ceremony of 129 Trainees of the “I’m Financially Literate (IFL)” Program
In the afternoon of February 28, 2023, CGCC, led by Mr. Wong Keet Loong, welcomed the delegation of the Ministry of Industry and Commerce of Laos for the study visit to understand Cambodia’s credit guarantee system in order to further develop the credit guarantee system for small and medium enterprises (SMEs) in Laos.
The Delegation of The Ministry of Industry and Commerce of Laos to Study Visit to Understand CGCC’s Credit Guarantee
CGCC is honored to share the good experience and success of the credit guarantee with the delegation from the Ministry of Industry and Commerce of Laos for the development of the credit guarantee system in Laos.
The Delegation of The Ministry of Industry and Commerce of Laos to Study Visit to Understand CGCC’s Credit GuaranteeThe Delegation of The Ministry of Industry and Commerce of Laos to Study Visit to Understand CGCC’s Credit Guarantee
On 27 February 2023, Mr. Wong Keet Loong, CEO of CGCC participated as a panelist in the panel discussion on “Intervention programs of related stakeholders in promoting and developing women entrepreneurship” in the seminar on “Women Entrepreneurs in MSMEs: Expanding Opportunity for Women Entrepreneurs in Digital Economy and Society”, organized by the Ministry of Women Affairs, with more than 100 participants from Ministry and Provincial Departments of Women Affairs, related ministries, private sectors, and development partners.
CGCC in the Seminar on “Women Entrepreneurs in MSMEs” of Ministry of Women Affairs
This seminar is organized to promote the focus on women entrepreneurs in business development in the digital era and review the mechanisms of relevant institutions to support women entrepreneurs more effectively.
During the Panel Discussion, CGCC’s CEO shared with audiences about CGCC’s credit guarantee scheme for women entrepreneurs, as well as the positive trend of providing credit guarantee to women entrepreneurs. He also highlighted CGCC’s additional support mechanisms for increasing credit guarantees, as well as supporting access to finance for women entrepreneurs in response to capital requirements and other skills, especially digital skills for business development through various training collaborating with partner banks/microfinance institutions.
CGCC in the Seminar on “Women Entrepreneurs in MSMEs” of Ministry of Women AffairsCGCC in the Seminar on “Women Entrepreneurs in MSMEs” of Ministry of Women Affairs
On 10 February 2023, Mr. Wong Keet Loong, CEO of CGCC, provided a Keynote Presentation on “Credit Guarantee Schemes of CGCC and its Role in Enterprise Development” at “Give a Day” event, co-organized by Swisscontact, Khmer Enterprise, and Pact Cambodia, and presided over by H.E. Dr. Chhieng Vanmunin, Mr. Rajiv Pradhan, Country Director of Swisscontact, Ms. Sabine Joukes, Chief of Party, WE Act/Pact Cambodia, and participated by almost representatives from Entrepreneur Support Organizations (ESOs), investors and business associations.
CGCC and Role of Credit Guarantee Schemes in Enterprise Development of “Give a Day” Event
“Give a Day” is a forum gathering the entrepreneurial ecosystem community in Cambodia that are mutually supporting each other with the willingness to bring any open discussion related to entrepreneurship for effective solutions. Today’s “Give a Day” event theme is credit guarantee schemes that are a gateway for SMEs to access formal loans, therefore it is crucial that SMEs and ESOs understand the schemes.
Mr. KL Wong introduced credit guarantee schemes’ journey in Cambodian Financial Ecosystem and its role in supporting potential MSMEs to be able to obtain an easier and larger amount of loans under CGCC’s credit guarantee through CGCC’s participating financial institutions. Participants were pleased to learn about the benefits of credit guarantees and how this financial instrument could address the challenges in access to finance that their members and network are currently facing.
CGCC and Role of Credit Guarantee Schemes in Enterprise Development of “Give a Day” EventCGCC and Role of Credit Guarantee Schemes in Enterprise Development of “Give a Day” Event
CGCC is honored to donate the water treatment system to Koh Sdach High School on 05 February 2023, led by Mr. Wong Keet Loong, CEO of CGCC, and presided over by Mr. Say Heng, Chief of Koh Sdach Commune, Mr. Rov Ratanaksambath, Chairman of the School Management Committee, Mr. Phok Hoeun, Principal of Koh Sdach High School, and participated by students of Koh Sdach High School and the parents of the students, in total about 200 participants.
CGCC’s CSR Event – Donating Water Treatment System to Koh Sdach High School
The donation of this water treatment system from CGCC will enable students and the community to have clean drinking water. This system can supply drinking water for the entire island. This would save cost for the community and improve their livelihood and hygiene as well as maintain a clean environment on the island.
During this CSR event, Mr. No Lida, Deputy CEO of CGCC, led the CGCC’s team on 4 February 2023 to pay a coutesy visit to the Chief of Koh Sdach Commune and Koh Sdach High School’s Principal, and to collect waste around the island for a cleaner environment with participation from students of Koh Sdach high school.
CGCC’s CSR Event – Donating Water Treatment System to Koh Sdach High School
CGCC is very pleased and highly appreciates the administration and the people of Koh Sdach for their support and assistance in making CGCC’s CSR mission completed successfully.
CGCC’s CSR Event – Donating Water Treatment System to Koh Sdach High School
“I’m Financially Literate” training program was concluded last weekend on 28 and 29 January 2023. This program was successfully launched by Sathapana Bank, in partnership with Credit Guarantee Corporation of Cambodia (CGCC), Khmer Enterprise, and Manulife Cambodia, aiming to promote and improve financial literacy for women entrepreneurs and business owners.
CGCC Supports the Accelerating SMEs’ Financial Literacy through the “I’m Financially Literate Program” 5th Cohort
CGCC and other partners have the great honor to support this training program in enabling and championing women in Business in Cambodia as well as providing the development in technical, soft, and entrepreneurial skills including project management, operation handling, financial management, marketing, and sales. As a result, 30 SMEs and business owners attended the 5th cohort and shared their experiences and related financial issues.
CGCC Supports the Accelerating SMEs’ Financial Literacy through the “I’m Financially Literate Program” 5th Cohort
(Phnom Penh) ៖ On 17 January 2023 morning, the Ministry of Economy and Finance (MEF) and Credit Guarantee Corporation of Cambodia (CGCC) co-organize CGCC Annual Seminar on “Role of Credit Guarantee Schemes in SMEs Development in Cambodia and ASEAN”. This Seminar is presided over by H.E. Dr. Mey Vann, Secretary of State of MEF, high representative of H.E. Akka Pundit Sopheacha, Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance, with the participation of high-level management from the Ministry of Economy and Finance, National Bank of Cambodia, Ministry of Women’s Affairs, Ministry of Industry, Science, Technology and Innovation, National and International Development Partners, Banks and Financial Institutions, and associations of more than 150 participants.
PRESS RELEASE CGCC Annual Seminar on “Role of Credit Guarantee Schemes in SMEs Development in Cambodia and ASEAN”
The purposes of this Seminar are to review CGCC’s annual guarantee progress, discuss the challenges and solutions on the implementation of credit guarantee schemes, share views on credit guarantee schemes in SMEs development as well as study the experiences of credit guarantee schemes in Malaysia and Thailand.
PRESS RELEASE CGCC Annual Seminar on “Role of Credit Guarantee Schemes in SMEs Development in Cambodia and ASEAN”
H.E. Dr. Mey Vann, stated, “SMEs are the indispensable driving force to ensure Cambodia’s sustainable, inclusive, and resilient economic growth. SMEs have played important roles in supporting Cambodia’s socioeconomic development and contributed significantly to poverty reduction from 50.2% in 2003 to 17.8% in 2020 through job creation and income growth of the Cambodian people.
PRESS RELEASE CGCC Annual Seminar on “Role of Credit Guarantee Schemes in SMEs Development in Cambodia and ASEAN”
In this Seminar, H.E. Dr. Mey Vann, high representative of H.E. Akka Pundit Sopheacha, Deputy Prime Minister, launched the “Portfolio Guarantee Scheme” and presented the awards to outstanding Participating Financial Institutions (PFIs) of CGCC in 2022, consisting of Canadia Bank, Sathapana Bank, AMK Microfinance, ABA Bank, and LOLC Microfinance.
PRESS RELEASE CGCC Annual Seminar on “Role of Credit Guarantee Schemes in SMEs Development in Cambodia and ASEAN”
CGCC was established by the Royal Government of Cambodia at the end of 2022 and launched the first credit guarantee scheme in March 2021. By the end of December 2022, CGCC has provided guarantees on 985 business loans with a total loan amount of more than USD 92 million, most of which are loans without sufficient collateral.
PRESS RELEASE CGCC Annual Seminar on “Role of Credit Guarantee Schemes in SMEs Development in Cambodia and ASEAN”
