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
On Aug 22, 2023, Credit Guarantee Corporation of Cambodia (CGCC), Federation of Association for Small and Medium Enterprises of Cambodia (FASMEC), and Wing Bank have entered into a strategic partnership to promote access to guaranteed loans for the development of Small and Medium Enterprises (SMEs) in Cambodia. This cooperation will provide support to SMEs, mainly FASMEC’s members, for greater access to finance despite collateral challenges and to promote financial literacy, including credit guarantees to FASMEC members across the country.
Signing MoU on Strategic Partnership to Support Small and Medium Enterprises in Access to Guaranteed Loans Between CGCC, FASMEC, and Wing Bank
The MoU Signing Ceremony is held at Wing Bank Head Office, presided by Mr. Wong Keet Loong, Chief Executive Officer of CGCC, Okhna Te Taing Por, President of FASMEC, and Mr. Han Peng Kwang, CEO of Wing Bank.
Signing MoU on Strategic Partnership to Support Small and Medium Enterprises in Access to Guaranteed Loans Between CGCC, FASMEC, and Wing Bank
Mr. Wong Keet Loong, CEO of CGCC said, “We are excited to be a partner with Wing Bank and FASMEC this year in order to support FASMEC’s SME members to increase their access to loans with Wing Bank supported by guarantees from CGCC. Also, we believe that this partnership will enable CGCC to reach out to more SMEs during our outreach programs when we carry out workshops on SME development throughout the provinces, which is part of our long-term goals at CGCC to improve the growth of SMEs”.
Signing MoU on Strategic Partnership to Support Small and Medium Enterprises in Access to Guaranteed Loans Between CGCC, FASMEC, and Wing Bank
Okhna Te Taing Por, President of FASMEC, said, “We are delighted to collaborate with Wing Bank and Credit Guarantee Corporation of Cambodia (CGCC) because it provides an opportunity for FASMEC member SMEs who lack collateral in finance to expand and grow their business.”
Signing MoU on Strategic Partnership to Support Small and Medium Enterprises in Access to Guaranteed Loans Between CGCC, FASMEC, and Wing Bank
Mr. Han Peng Kwang, CEO of Wing Bank, said, “Through our innovative financial solutions and partnership with CGCC and FASMEC, we are committed to empowering SMEs with greater access to finance,” said Han Peng Kwang, CEO of Wing Bank. “By providing flexible banking services and credit support, we are enabling SMEs to seize growth opportunities, drive innovation, and contribute to the overall prosperity of Cambodia.”
Signing MoU on Strategic Partnership to Support Small and Medium Enterprises in Access to Guaranteed Loans Between CGCC, FASMEC, and Wing Bank
This partnership between CGCC, FASMEC, and Wing Bank demonstrates a shared commitment to promoting economic growth and development in Cambodia. By working together, the three organizations will help SMEs overcome financing challenges and unlock their potential including improving financial literacy to drive economic growth in the country.
Signing MoU on Strategic Partnership to Support Small and Medium Enterprises in Access to Guaranteed Loans Between CGCC, FASMEC, and Wing Bank
About CGCC
CGCC is the first-ever credit guarantee corporation in Cambodia, established by the decision of Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister as a state-owned enterprise under the technical and financial guidance of the Ministry of Economy and Finance. CGCC’s main mission is to provide credit guarantees to lenders on loans made to businesses based on international standards to share the risk with lenders and to improve financial inclusion. For more info, please visit: www.cgcc.com.kh
About FASMEC
FASMEC is a federation formed by a group of associations and small and medium enterprises in Cambodia, established and registered by the Ministry of Interior in 2010. FASMEC’s vision is to connect Cambodian small and medium-sized enterprises to local and international markets. FASMEC’s mission is to bring together Cambodian small and medium-sized businesses and collaborate to ensure that the quality of Cambodian products is recognized internationally. Aims to improve the business environment by developing training courses, increasing productivity and innovation, and challenging the challenges of small and medium-sized businesses.
About Wing Bank
Wing Bank (Cambodia) Plc – the bank for every Cambodian – is driven by the vision to provide every Cambodian with convenient access to financial services relevant to, and for the improvement of, their daily lives since 2008. Today, Wing Bank serves the entire Cambodian population with 100% coverage of the districts in Cambodia thanks to the innovative Wing Money App, more than 11,000 Wing Cash Xpress agents, over 150,000 merchants, and partnerships with industry giants such as Mastercard, MoneyGram, AliPay, WeChat Pay, Western Union, Visa, and Ria. Wing Bank provides an array of advanced financial products both for individual and corporate customers. These include loans, deposits, micro-savings, credit referral services, money transfers, utility and insurance payments, supply chain payments, payroll services and even phone top-ups. Wing Bank is committed to providing financial, gender and digital inclusion to the unbanked and the under-banked, allowing every Cambodian to enjoy convenience and security when it comes to financial services.
On 18 August 2023 afternoon, CGCC Management and staff visited the Preah Srey Içanavarman Museum – Sosoro. During this visit, all CGCC staff learned about the history of Cambodia’s currency dating back to 2,000 years from the Funan period until present and the role of the currency in contributing to the country’s development.
CGCC Visited the Preah Srey Içanavarman Museum – SosoroCGCC Visited the Preah Srey Içanavarman Museum – SosoroCGCC Visited the Preah Srey Içanavarman Museum – Sosoro
