On June 07, 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 Kampong Thom Province in collaboration with Kampong Thom – Preah Vihear Chamber of Commerce with more than 100 participants from Management and staff of participating financial institutions (PFIs) and small and medium business owners in Kampong Thom and other provinces. The seminar was also presided over by H.E. Tan Mony, Vice President of Kampong Thom – Preah Vihear Chamber of Commerce, Mr. No Lida, Deputy CEO of CGCC, Mr. Chuon Kimyan, Chief Executive Officer of Kampong Thom Techash Meanchey Union of Agriculture Corporative, and also the presentations by representatives from AMK Microfinance Institution and Canadia Bank as well.
Dissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Kompong Thom ProvinceDissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Kompong Thom Province
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.
From 05 March to 09 June 2023, CGCC team led by Mr. No Lida, Deputy CEO 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 3 provinces including:
– Kampong Cham province: Chamroeun Microfinance, Maybank, and AMK Microfinance
– Kampong Thom province: Satahapana, ABA Bank, Canadia Bank and Prince Bank
– Preah Vihear Province: Prince Bank, Acleda Bank, ABA Bank and Sathapana Bank
The discussions with CGCC PFIs’ provincial branches in these 3 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 Cham, Kampong Thom and Preah Vihear, to Enhance Collaboration on the Credit Guarantee
Chamroeun Microfinance (Kampong Cham Branch)
CGCC visits PFIs provincial branches in Kampong Cham, Kampong Thom and Preah Vihear, to Enhance Collaboration on the Credit Guarantee
Maybank (Kampong Cham Branch)
CGCC visits PFIs provincial branches in Kampong Cham, Kampong Thom and Preah Vihear, to Enhance Collaboration on the Credit Guarantee
AMK Microfinance (Kampong Cham Branch)
CGCC visits PFIs provincial branches in Kampong Cham, Kampong Thom and Preah Vihear, to Enhance Collaboration on the Credit Guarantee
Satahapana Bank (Kampong Thom Branch)
CGCC visits PFIs provincial branches in Kampong Cham, Kampong Thom and Preah Vihear, to Enhance Collaboration on the Credit Guarantee
ABA Bank (Kampong Thom Branch)
CGCC visits PFIs provincial branches in Kampong Cham, Kampong Thom and Preah Vihear, to Enhance Collaboration on the Credit Guarantee
Canadia Bank (Kampong Thom Branch)
CGCC visits PFIs provincial branches in Kampong Cham, Kampong Thom and Preah Vihear, to Enhance Collaboration on the Credit Guarantee
Prince Bank (Kampong Thom Branch)
CGCC visits PFIs provincial branches in Kompang Cham, Kampong Thom and Preah Vihear, to Enhance Collaboration on the Credit Guarantee
Phnom Penh, Cambodia – June 10, 2023 – Credit Guarantee Corporation of Cambodia (CGCC) and Maybank Cambodia have entered into a strategic partnership with Business Network International (BNI-Super) , and Cambodia Women Enterprise Association (CWEA) with an intent to support the local small and medium-sized enterprises (SMEs) in the Kingdom through SME Building Capacity & Capability Programme (BCC).
Under the MOU, CGCC, Maybank Cambodia, BNI-Super, and CWEA will collaborate to provide trainings and workshops to the members of BNI and CWEA, and other SME communities to help them expand their businesses. The trainings will cover a range of topics relating to financial literacy and business operation.
CGCC, Maybank Cambodia, BNI-Super, and CWEA Sign MOU to Elevate SME Capacity and Capability Building
The MOU will also pave the way for the participating SMEs’ long-term social and business growth through networking sessions, technical and knowledge sharing and incentivised rates offered by Maybank Cambodia.
The MOU was inked at Maybank Tower, highly witnessed by H.E. Dr. Sok Siphana, Founding Partner of SokSiphana & associates and Chairman of Asian Vision Institute, inked by Mr. Wong Keet Loong, Chief Executive Officer of CGCC, Mr. Rath Sophoan, Chief Executive Officer & Country Head of Maybank Cambodia, H.E. Chea Ratha, Vice President of CWEA, and Mr. Kruy Rithy, President of BNI-Super.
CGCC, Maybank Cambodia, BNI-Super, and CWEA Sign MOU to Elevate SME Capacity and Capability Building
Mr. Rath Sophoan, CEO of Maybank Cambodia said, “This MOU and BCC Programme signify Maybank’s continuous commitment to supporting the growth of SMEs in Cambodia. We believe that by providing training in capacity and capability building as part of the financial literacy programme, we are equipping SMEs with the right tools to sustain their business, thus contributing to the Kingdom’s overall economic development.”
“Following the success of the BCC Programme in 2022 with CGCC, this year, we want to continuously fulfil our promise to humanise financial services by taking it to the next level through renewing and expanding our collaboration with two more partners namely CWEA, and BNI,” he added.
CGCC, Maybank Cambodia, BNI-Super, and CWEA Sign MOU to Elevate SME Capacity and Capability Building
Mr. Wong Keet Loong, Chief Executive Officer of CGCC said “We are excited to partner with Maybank again this year for the BCC Programme, and the expanded outreach with BNI and CWEAto launch this important programme. We believe that the BCC Programme will be a valuable resource for SMEs in Cambodia and will help our entrepreneurs to grow and succeed with the broader opportunities to access to financing and improve financial literacy, which is aligned with our goals at CGCC”
CGCC, Maybank Cambodia, BNI-Super, and CWEA Sign MOU to Elevate SME Capacity and Capability Building
H.E. Chea Ratha, Vice President of CWEA endorsed “we are delighted to participate in this initiative, as it aligns with our mission of empowering women entrepreneurs through upskilling and networking. We encourage all CWEA members and women entrepreneurs alike to take advantage of this opportunity to grow and learn.”
CGCC, Maybank Cambodia, BNI-Super, and CWEA Sign MOU to Elevate SME Capacity and Capability Building
Mr. Kruy Rithy, President of BNI-Super also expressed his/her optimism on the training. He/she said “We are confident that this partnership will be mutually beneficially, as it will allow our members to expand their networks, develop new skills, and grow their businesses.”
In this signing ceremony, there was also a panel discussion on “Cambodia Economic Outlook, Challenges and Opportunities of SMEs”, participated by 4 panelists: H.E. Dr. Sok Siphana, H.E. Chea Ratha, Mr. Rath Sophoan, and Mr. No Lida, Deputy CEO of CGCC.
CGCC, Maybank Cambodia, BNI-Super, and CWEA Sign MOU to Elevate SME Capacity and Capability Building
In 2022, the BCC Programme trained nearly 100 SMEs and financial advisors on various topics including business registration in Cambodia, importance of financial discipline, branding and digital marketing, as well as the aspects of managing human resources. The trainings were presented by subject-matter experts and professionals from locally renowned law firms, business consulting, advertising agencies and financial institutions.
On 06 June 2023, at the Secretariat office of the Cambodia Rice Federation (CRF), Mr. Wong Keet Loong, CEO of CGCC, and two CGCC team members attended a meeting with Oknha. Chan Sokheang, president of CRF, to discuss the collaboration to support Cambodia’s rice sector.
In this meeting, both parties discussed the situation of Cambodia’s rice sector as well as the plan to develop the Credit Guarantee Scheme to support access to guaranteed loans in this sector.
On Friday, 12 May 2023, at the National Bank of Cambodia (NBC), Credit Guarantee Corporation of Cambodia (CGCC), led by Mr. Wong Keet Loong, CEO of CGCC, paid a courtesy visit to H.E. Rath Sovannorak, Assistant Governor and Director General of Banking Supervision of NBC.
CGCC’s CEO, Mr. KL Wong was very grateful for the warm welcome of H.E Sovannorak and his team and was very pleased to update on CGCC’s latest progress in providing credit guarantee and CGCC’s strategy that requires close cooperation and support from NBC.
In response, H.E. Sovannorak praised the progress made by CGCC and expressed his support for CGCC’s mission to provide guarantees on loans disbursed by banks and microfinance institutions (MFIs) to businesses that lack collaterals, especially SMEs, the backbone of the economy, and to raise SMEs awareness on financial literacy.
The meeting also discussed the latest development in the banking sector, new NBC regulations as well as ways to enhance cooperation to improve financial inclusion and access to finance.
Phnom Penh, 26 April 2023 – Credit Guarantee Corporation of Cambodia (CGCC) and Cambodia Chamber of Commerce (CCC) officially announced a strategic partnership through the Signing Ceremony on the Memorandum of Understanding (MoU) to promote access to guaranteed loans for the development of Micro, Small and Medium Enterprises (MSMEs) in Cambodia. This cooperation will provide support to MSMEs, mainly CCC members, for greater access to finance despite collateral challenges and to promote financial literacy, including credit guarantees to CCC members across the country.
Signing Ceremony on the Memorandum of Understanding (MoU) Between Credit Guarantee Corporation of Cambodia (CGCC) and Cambodia Chamber of Commerce (CCC)
Mr. Wong Keet Loong, Chief Executive Officer of CGCC said “This MoU signing with the Cambodia Chamber of Commerce (CCC) is an important milestone for CGCC as it enables CGCC to reach out to the members of CCC across the country. CCC, being an established business chamber with many SME members, will be a key partner to CGCC in promoting the understanding of the benefits of the credit guarantee. Together with CCC, we can support the development of SMEs in Cambodia by improving financial inclusion and financial literacy.”
Signing Ceremony on the Memorandum of Understanding (MoU) Between Credit Guarantee Corporation of Cambodia (CGCC) and Cambodia Chamber of Commerce (CCC)
H.E. Oknha Nguon Meng Tech, Director General of CCC mentioned that “The MSMEs play significant roles in economic development. However, they face a lot of challenges, particularly financial constraints. In this regard, the MOU signing CCC and CGCC today aimed specifically to promote access to guaranteed loans for the development of MSMEs. The MOU signing is also a positive sign that will help strengthen and deepen the cooperation between the two institutions.”
This partnership between CGCC and CCC demonstrates a shared commitment to promoting economic growth and development in Cambodia. By working together, the two organizations will help SMEs overcome financing challenges and unlock their potential to drive economic growth in the country.
Signing Ceremony on the Memorandum of Understanding (MoU) Between Credit Guarantee Corporation of Cambodia (CGCC) and Cambodia Chamber of Commerce (CCC)
On 20-21 April 2023, Mr. Aing Sovannra, Director of Risk Management and Compliance, representing CGCC, attended a Stakeholder Workshop on (Strengthening Responsible Inclusive Finance in Cambodia) organized by the Cambodia Microfinance Association (CMA) and CERISE+SPTF.
The workshop aims to bring together stakeholders in the industry including regulators (NBC), the associations (CMA, ABC, and the Fintech association), and FI support organizations (CGCC, CBC, IBF) to discuss and find ways to improve responsible financial inclusion in Cambodia. CGCC, as a credit guarantee provider, can help improve access to finance for SMEs, hence contribute to the objective of responsible financial inclusion in Cambodia.
In the afternoon of April 20, 2023, CGCC, led by Mr. Wong Keet Loong, met with UN Women and United Nations Environment Programme (UNEP) to discuss about the possible collaboration on a project called “EmPower-Il: Women for Climate-Resilient Societies”.
On 03 April 2023, CGCC organized the first Annual Town Hall meeting, a gathering of all CGCC staff to report on progress and milestones to the Executive Committee (Exco) of CGCC as well as sharing with the staff on the previous year’s and the first quarter of 2023 progress, especially on the strategy and action plan of each respective departments in 2023.
CGCC Town Hall Meeting 2023 on “Milestones and Strategy Plan”
This town hall meeting is not only for sharing the progress report and plans from all departments, but also for a dialogue platform to openly discussion and obtain recommendations from management on the direction of CGCC’s operations and vision in improving financial inclusion and develop SMEs in Cambodia.
Within the 2 years of operation, CGCC is strongly supported by the Royal Government, and under the direct guidance from the Ministry of Economy and Finance (MEF). CGCC operates with the strong leadership of management, who has extensive experiences in banking and financial sector. As such, CGCC has grown steadily, and as of the end of the first quarter of 2023, the CGCC has more than 40 employees working in solidarity and same goal to achieve the vision of the company.
CGCC Town Hall Meeting 2023 on “Milestones and Strategy Plan”CGCC Town Hall Meeting 2023 on “Milestones and Strategy Plan”
On March 31, 2023, the Credit Guarantee Corporation of Cambodia (CGCC) organized a semanar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Svay Rieng Province in collaboration with Svay Rieng Chamber of Commerce with more than 50 participants from Management and staff of participating financial institutions (PFIs) and small and medium business owners in Svay Rieng. The seminar was also presided over by Mr. Sok Rado, President of Svay Rieng Provincial Chamber of Commerce, and Mr. No Lida, Deputy CEO of CGCC.
Dissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Svay Rieng Province
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.
Dissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Svay Rieng Province
