Phnom Penh, 23 November 2024 – Maybank Cambodia, in partnership with the USAID-funded Feed the Future Cambodia Harvest III project, is proud to announce the launch of the SME Export Finance Solution, providing tailored SME and trade financing options to empower Cambodian SME exporters to the global market. This programme also includes the Credit Guarantee Scheme and the Building Capacity & Capability (BCC) programme for SMEs, developed in collaboration between Maybank Cambodia and the Credit Guarantee Corporation of Cambodia (CGCC).
This partnership aims to elevate the competitiveness of local SMEs on the global stage, fostering sustainable growth and strengthening Cambodia’s presence in international markets. By offering tailored financial products—such as working capital loans, trade finance, competitive FX in 21 currencies, remittance solutions, and export credit facilities—the initiative equips SMEs with essential resources to overcome financial barriers and pursue international growth. This marks a transformative milestone for Cambodian SMEs, providing a pathway to expand operations, increase revenue, and secure their place in the global marketplace.
Mr. Rath Sophoan, Chief Executive Officer and Country Head of Maybank Cambodia, commented on the partnership, stating, “The SME Export Finance Solution is a game-changer for Cambodian businesses aiming for expanding exports to existing and or new international markets. By empowering SMEs to overcome traditional barriers to finance, this partnership advances individual business growth while contributing to the broader economic development of Cambodia.”
“SMEs are the backbone of the Cambodian economy, and by equipping them to succeed in export markets, this collaboration will fuel job creation, foster sustainable economic growth, and strengthen Cambodia’s position as a competitive player in the ASEAN region and beyond. This initiative also reinforces Maybank’s commitment to its role as the Best ASEAN bank in Cambodia, leading the way in regional economic empowerment,” he added.
Aligned with the objectives of Feed the Future Cambodia Harvest III —a five-year USAID-funded Activity focused on fostering inclusive and sustainable growth in Cambodia’s agriculture and SME sectors—this collaboration supports diversification, resilience, and competitiveness among Cambodian SMEs. By engaging private-sector partners and key stakeholders, the project aims to strengthen SMEs’ capacity to contribute meaningfully to Cambodia’s economic development and ultimately improve livelihoods for Cambodians.
Mr. Nimish Jhaveri, Chief of Party of Feed the Future Cambodia Harvest III, remarked, “With this new trade financing solution, we can provide SMEs with the necessary capital to manage production costs, invest in quality improvements, and fulfill international orders. An effective trade financing solution is crucial for these enterprises, as it not only helps bridge cash flow gaps but also enables them to compete more effectively by facilitating timely deliveries and expanding their market reach. Together, we ensure that these enterprises are equipped not only with financial resources but also with the knowledge and expertise required to succeed globally. This partnership plays a pivotal role in enhancing Cambodia’s export potential and advancing the country’s sustainable economic growth.”
In conjunction with the SME Export Finance Solution, Maybank Cambodia, CGCC, and Harvest III also announce ‘SME Building Capacity & Capability (BCC) Programme 2024 & 2025’, a flagship initiative designed to further equip SMEs with essential business skills and knowledge. Since its inception in 2021, the BCC Programme has provided hundreds of SMEs with training on business fundamentals, advanced techniques, and modern technologies. Building on this success, in 2024 the programme will deliver specialized sessions on trade finance solutions, financial management, and strategic planning, led by industry experts from accounting & business, consulting, and finance sectors. This training empowers SMEs with practical insights and skills needed to enhance their operations and optimize their growth potential.
Mr. No Lida, Chief Executive Officer of CGCC, expressed his strong support, stating, “The BCC Programme equips our SMEs with essential skills and knowledge, empowering them to access finance and expand their businesses. Through this initiative, we can help improve financial literacy and lay the groundwork for SMEs to thrive both locally and internationally. This programme is a crucial step toward our shared vision of fostering a resilient and dynamic SME sector that significantly contributes to Cambodia’s economic growth. Furthermore, the initiative is strengthened by CGCC’s Credit Guarantee Scheme, which addresses one of the biggest challenges faced by SMEs: insufficient collateral. By easing collateral requirements, we expand financing options, allowing SMEs to access the capital they need for sustainable growth.”
Together, Maybank Cambodia, Harvest III, and CGCC are building a robust ecosystem of support for Cambodian SMEs, positioning them to thrive in both domestic and global markets. Through the combined power of financial solutions, capacity-building programmes, and reduced collateral requirements through credit guarantee, this initiative provides SMEs with the resources, knowledge, and confidence to scale their businesses and pursue international opportunities.
This strategic alliance demonstrates a shared commitment to building a resilient, inclusive, and globally connected SME in Cambodia. Maybank Cambodia, CGCC, and Harvest III are paving the way for a future where Cambodian businesses are equipped to contribute significantly to the national economy while enhancing the country’s presence on the global stage.
Clean Energy Week 2024 is being organized by the Energy Lab in collaboration with the Ministry of Mines and Energy, with support from UNDP and Cambodia Australia Partnership for Resilient Economic Development (CAPRED). The event is taking place from October 31 to November 7, 2024.
