On 11 November 2023, Mr. No Lida, Deputy CEO of CGCC, led CGCC team to participate in the Women Entrepreneurs Day organized by Cambodia Women Entrepreneurs Association under the topic “The Challenges of Taxation on Women Entrepreneurs and Future Outlook”. This meaningful event was attended by more than 150 participants from relevant institutions from the public and private sectors, as well as development partners.
CGCC Team to Participate in the Women Entrepreneurs Day Organized by Cambodia Women Entrepreneurs Association Under the Topic “The Challenges of Taxation on Women Entrepreneurs and Future Outlook”
During this event, Ms. San Sokrina, Manager of Product Development of CGCC, was a guest speaker in a panel discussion on “Government Support to Women Entrepreneurs Facing Global Economic Crisis”. During the panel discussion, Ms. San Sokrina shared CGCC’s Credit Guarantee Schemes, especially the Women Entrepreneurs Guarantee Scheme, which is specifically designed for women entrepreneurs’ access to finance to support their businesses, as well as key recommendations to women entrepreneurs on how to manage and gain access to business loans.
CGCC Team to Participate in the Women Entrepreneurs Day Organized by Cambodia Women Entrepreneurs Association Under the Topic “The Challenges of Taxation on Women Entrepreneurs and Future Outlook”CGCC Team to Participate in the Women Entrepreneurs Day Organized by Cambodia Women Entrepreneurs Association Under the Topic “The Challenges of Taxation on Women Entrepreneurs and Future Outlook”
On 28 October 2023, CGCC, in collaboration with Maybank Cambodia, held the second workshop as part of its “SME Building Capacity and Capability (BCC)” program, with the participation of two esteemed guest speakers, Mr. Sam Kosal and Mrs. Lim Kimchea, along with over 100 SMEs.
This BCC program is a collaborative initiative between CGCC, Maybank Cambodia, BNI-Super and CWEA under an MOU to capacitate SMEs with skills to elevate their entrepreneurship and provide credit guarantees to SMEs.
This second workshop features among others special sharing sessions on the topics of “Marketing Strategy for Recession-Proofing and Business Competition during Economic Expansion” and “Online Business in Cambodia”.
CGCC & Maybank Cambodia Collaborated on the Second Workshop of “SME Building Capacity and Capability (BCC)” ProgramCGCC & Maybank Cambodia Collaborated on the Second Workshop of “SME Building Capacity and Capability (BCC)” ProgramCGCC & Maybank Cambodia Collaborated on the Second Workshop of “SME Building Capacity and Capability (BCC)” Program
Mr. No Lida, Deputy CEO of CGCC, led CGCC’s delegation to attend the 2023 International Seminar on Enhancing Financial Accessibility of MSMEs that was held on 18th October 2023, in Singapore, and presented about CGCC’s Credit Guarantee Scheme for Building Reliable Credit Guarantee Infrastructure to Help MSMEs Better Access Financial Services.”
CGCC Participated in the 2023 International Seminar on Enhancing Financial Accessibility of MSMEs in SingaporeCGCC Participated in the 2023 International Seminar on Enhancing Financial Accessibility of MSMEs in SingaporeCGCC Participated in the 2023 International Seminar on Enhancing Financial Accessibility of MSMEs in SingaporeCGCC Participated in the 2023 International Seminar on Enhancing Financial Accessibility of MSMEs in Singapore
This international seminar was attended by more than 46 representatives and observers from 10 countries, including Cambodia, Korea, Brunei, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Through this international seminar, representatives of each participating institution made a presentation to share about their institutions, especially, the law and regulation, schemes/products, procedures, and mechanisms, especially credit guarantee schemes to support the development of MSMEs.
On 10 October 2023, CGCC organized the Third CGCC Town Hall meeting of 2023 to review the progress in Q3 and plan in Q4 2023.
The 3rd Town Hall Meeting was attended by all CGCC staff and a guest of honor, Mr. Oeur Sothearoath, Chief Executive Officer of Credit Bureau Cambodia (CBC). CGCC Town Hall meeting is not only for reviewing and evaluating CGCC’s progress but also a platform for a general discussion on the current situation of the banking and financial sector in Cambodia.
CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″CGCC 3rd Town Hall Meeting 2023 to review “Progress in Q3 and Plan in Q4 2023″
On October 10, 2023, Management and all staff of CGCC organized a blessing ceremony at CGCC’s office to welcome the upcoming Pchum Ben Festival.
We would like to extend our wishes to CGCC’s staff and beloved families, CGCC’s partners and stakeholders, and all Cambodian people happiness, prosperity, and safe travel to everywhere
Blessing Ceremony to Welcome the Upcoming Pchum Ben FestivalBlessing Ceremony to Welcome the Upcoming Pchum Ben FestivalBlessing Ceremony to Welcome the Upcoming Pchum Ben FestivalBlessing Ceremony to Welcome the Upcoming Pchum Ben FestivalBlessing Ceremony to Welcome the Upcoming Pchum Ben FestivalBlessing Ceremony to Welcome the Upcoming Pchum Ben Festival
On 30 August 2023, CGCC organized a training on “PowerPoint Designs and Presentation Skills” for all staff at CGCC head office.
CGCC hopes this training course will help improving the presentation skills of all CGCC staff and contributing their work performance as well as CGCC development as a whole.
Training on PowerPoint Designs and Presentation Skills for CGCC’s StaffTraining on PowerPoint Designs and Presentation Skills for CGCC’s StaffTraining on PowerPoint Designs and Presentation Skills for CGCC’s StaffTraining on PowerPoint Designs and Presentation Skills for CGCC’s Staff
On 29 September 2023, Credit Guarantee Corporation of Cambodia (CGCC) and the Branch of Kasikornbank Public Company Limited (Phnom Penh) signed the Credit Guarantee Agreement. The Signing Ceremony was held at CGCC’s office with the honorable presence of H.E. Ros Seileva, Secretary of State of the Ministry of Economy and Finance, and Chairman of CGCC, H.E. Cherdkiat Atthakor, Ambassador of Thailand to Cambodia, and Mr. Suwat Techawatanawana, Executive Vice President of Kasikornbank Thailand.
CGCC and the Branch of Kasikornbank Public Company Limited (Phnom Penh) Signed on Credit Guarantee Agreement to support Cambodian MSMEs to Access to Guaranteed LoansCGCC and the Branch of Kasikornbank Public Company Limited (Phnom Penh) Signed on Credit Guarantee Agreement to support Cambodian MSMEs to Access to Guaranteed Loans
Mr. Wong Keet Loong, Chief Executive Officer of CGCC, said: “We are very honored to have this partnership with a leading bank of Thailand to offer credit guarantees to support their MSME financing in Cambodia. The bank branch here can tap on their experience in Thailand, where the banking sector is very experienced in providing guaranteed loans. With this experience, we hope the bank will extend guaranteed financing to benefit Cambodian-owned businesses.
This collaboration also opens up opportunities for us to explore cross-border guarantees between businesses in Thailand and Cambodia. We have plans to understudy and collaborate with the Thai Credit Guarantee Corp, which has more than 30 years of experience, towards the end of this year.”
CGCC and the Branch of Kasikornbank Public Company Limited (Phnom Penh) Signed on Credit Guarantee Agreement to support Cambodian MSMEs to Access to Guaranteed Loans
Mr. Ritthiwut Watthanachai, General Manager of the Branch of Kasikornbank (Phnom Penh), said: “Cambodia is at the center of Kasikornbank’s regional expansion strategy. This initiative seamlessly aligns with our business plan for the next phase, which we aim to leverage our experience in supporting small and medium-sized businesses in Thailand and replicate a similar model to serve local Cambodian SMEs. The partnership with CGCC will be the key enabler for us in extending our reach to a broader entrepreneur base, while improving our service capabilities. As the first Thai bank who joins the credit guarantee scheme, this partnership underlines Kasikornbank’s aspiration and commitment in supporting the Government’s vision for SME development.”
CGCC aims to improve financial inclusion and develop MSMEs with the main mission of providing guarantees for loans through Participating Financial Institutions (PFIs) to MSMEs. Meanwhile, the Branch of Kasikorn Bank (Phnom Penh) is a foreign bank branch of Kasikornbank Public Company Limited, known as KBank, one of Thailand’s leading financial institutions. The branch provides a wide range of financial services and solutions to individuals and businesses.
With a strong presence in Cambodia, the Branch of Kasikornbank (Phnom Penh) has now become one of the 27 Participating Financial Institutions (PFIs) of CGCC, committing to assisting business entities in line with the Government’s direction to support MSMEs. CGCC and Kasikornbank are confident that this partnership will help to address the financing gap faced by many MSMEs in Cambodia and contribute to the growth and development of the country’s economy.
CGCC and the Branch of Kasikornbank Public Company Limited (Phnom Penh) Signed on Credit Guarantee Agreement to support Cambodian MSMEs to Access to Guaranteed LoansCGCC and the Branch of Kasikornbank Public Company Limited (Phnom Penh) Signed on Credit Guarantee Agreement to support Cambodian MSMEs to Access to Guaranteed LoansCGCC and the Branch of Kasikornbank Public Company Limited (Phnom Penh) Signed on Credit Guarantee Agreement to support Cambodian MSMEs to Access to Guaranteed Loans
About CGCC
CGCC is the only credit guarantee corporation in Cambodia, established by the decision of Samdech Akka Moha Sena Padei Techo Hun Sen, as a state-owned enterprise under the technical and financial guidance of the Ministry of Economy and Finance. The primary mission of CGCC is to provide credit guarantees to improve financial inclusion and support the growth of SMEs in Cambodia.
About Branch of Kasikornbank Public Company Limited (Phnom Penh)
The Branch of Kasikornbank Public Company Limited (Phnom Penh) was granted the commercial banking license by National Bank of Cambodia in November 2016. The initial registered capital was MUSD 50, which has been increased to MUSD 80 as of 2023. As an integral of Kasikornbank, the branch aims to provide best in class financial products and services to both local and foreign business in Cambodia. Given Kasikornbank’s presences in China, Indonesia, Vietnam, Lao PDR, and Thailand, the branch also focuses on connecting customers from across the region.
On 15th September 2023, the Credit Guarantee Corporation of Cambodia (CGCC) and Cambodia Chamber of Commerce (CCC) co-organized a seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Pailin province in collaboration with Pailin Chamber of Commerce with more than 80 participants from Management and staff of participating financial institutions (PFIs) and small and medium business owners in Pailin and other provinces. The seminar was also presided over by H.E. Oknha. Lor Sun Cheang, President of Pailin Chamber of Commerce, Mr. No Lida, Deputy CEO of CGCC, Mr. Hun Vatha, Vice President of Cambodia Agricultural Corporative Alliance (CACA), and the presentations by representatives from LOLC Microfinance Institution and ABA Bank as well.
Through this seminar, small and medium business owners are informed about the benefits of guaranteed loans through CGCC’s participating financial institutions in response to the lack of collateral when applying for a loan to expand and rehabilitate their businesses more.
Dissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Pailin ProvinceDissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Pailin ProvinceDissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Pailin ProvinceDissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Pailin ProvinceDissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Pailin ProvinceDissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Pailin ProvinceDissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Pailin ProvinceDissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Pailin Province
On 7th & 19th September 2023 at 2:00 pm, CGCC organized the 15th Board of Directors Meeting at CGCC 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 agenda of this 15th Board Meeting includes:
(1) CGCC Work Progress Report
(2) Strategic Business and Budget Plan for 2024
(3) SDG Financing Facility with UNDP
(4) Other Matters
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.
15th Board of Directors Meeting of Credit Guarantee Corporation of Cambodia (CGCC)
From 11 September to 14 September 2023, CGCC team led by Mr. Hor Saopiseth, Manager of Centralized Operations of CGCC, visited provincial branches of selected participating financial institutions (PFIs) to discuss with the management and staff of the selected PFIs the implementation of CGCC’s credit guarantee schemes. The selected PFIs in 4 provinces including:
– Kampong Chnang province: ABA Bank and Chamroeun Microfinance
– Pursat province: Prince Bank, Canadia Bank and Chamroeun Microfinance.
– Battambang Province: Prince Bank, FTB Bank, and Maybank
– Pailin Province: LOLC Microfinance, Phillip Bank and ABA Bank.
The discussions with CGCC PFIs’ provincial branches in these 4 potential provinces provided opportunities for both CGCC and PFIs to enhance mutual understanding of credit guarantees and opportunities for PFIs to increase lending to borrowers that lack collateral when requesting loans.
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit GuaranteeCGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit GuaranteeCGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit GuaranteeCGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit GuaranteeCGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit GuaranteeCGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee
