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News from BTV on “Signing Ceremony on Credit Guarantee Agreement between CGCC & Cambodia Asia Bank”

Click here to read about: CGCC recommends ways to Access to Guaranteed Loans

The Credit Guarantee Corporation of Cambodia Plc., a state-owned enterprise, has invested $2 million in guaranteed bonds to support Techo International Airport development in Kandal province.

The investment agreement was signed yesterday by Charles Vann, Director of Cambodia Airport Investment Co., Ltd (CAIC) and Wong Keet Loong, CEO of Credit Guarantee Corporation of Cambodia Plc in the presence of Pung Kheav Se, Chairman of Overseas Cambodian Investment Corporation Ltd. (OCIC) and Mey Vann, Secretary of State of the Ministry of Economy and Finance and members of CGCC’s Board of Directors.

The coupon rate of CAIC bonds is 5.5 per cent per annum with a three-year tenor and guaranteed by OCIC. The funds raised from the Techo International Airport Guaranteed Bond will be used for the construction and development of the Techo International Airport in Kandal province, the CAIC said.

Techo International Airport project is currently 30 percent completed with a total amount of $390 million, excluding airport land already invested by CAIC.

Wong  said the CGCC’s investment is to contribute to the development of infrastructure in Cambodia.

“This bond investment is part of CGCC’s diversification in investing our funds in bonds other than fixed deposits. We are pleased to invest and support the development of the Techo International Airport in contributing to building Cambodia’s national pride,” he said.

The CGCC’s investment in CAIC’s guaranteed bond came after local financial sectors – Wing Bank Plc, Alpha Commercial Bank, Prince Bank, FTB bank, ABA Bank, CPBank, and ACLEDA Bank.

CAIC is a joint venture between the Royal Government of Cambodia, represented by the State Secretariat of Civil Aviation, and OCIC, the largest investment group and local conglomerate in Cambodia.

The RGC has granted CAIC the rights to own, design, construct, finance, operate, maintain and manage Techo International Airport Project.

CGCC is operated under the technical and financial guidance of the Ministry of Economy and Finance. It was incorporated on November 3, 2020, and has been receiving technical support from the Asian Development Bank, World Bank and UNCDF.

Credit to: Khmer Times, 28 January 2022

The Credit Guarantee Corporation of Cambodia (CGCC) yesterday teamed up with the Biogas Technology and Information Center (BTIC) to promote investment of commercial biogas technologies to combat climate change.

The BTIC was jointly established by the Royal University of Agriculture and the United Nations Industrial Development Organization (UNIDO) through the project “Reduction of Greenhouse gas emission through Promotion of Commercial Biogas Plants.”

The CGCC and BTIC signed the Memorandum of Understanding yesterday and agreed to identify opportunities for collaborative activities and programmes to assist biogas technology and investment through appropriate risk-sharing facilities and to take forward identified collaborative opportunities in bridging knowledge gaps of the biogas value chain among partners and relevant stakeholders.

In a statement released yesterday, it said that the initiative will support and enable access to financial resources for commercial biogas technology investment for the interested investors or promoters.

With such enabling investment environment, it will foster the adoption and implementation of commercial biogas technologies in the livestock sector and agro-processing industry which will provide great potential for the sectors in harnessing wastes to energy and in complying with bio-security systems, sanitation, and environmental safeguards such as preventing odour and water pollution.

It said that the cooperation will enable farmers, rural communities and agribusinesses to improve their livelihoods and increase business profitability in a good and sustainable manner.

Wong Keet Loong, CGCC Chief Executive Officer, said, “This MoU signing with BTIC is a step towards CGCC’s Environmental, Social and Governance (ESG) strategies to support the growth of the agriculture sector which is one of the key priority sectors in Cambodia.”

“This sector is the main source of local employment and income in the rural areas. As the agriculture sector is the second largest source of greenhouse gas (GHG) emissions, it will cause climate changes such as extended monsoon rainfalls and higher temperatures will have negative effects on this sector. Thus, the importance of reducing climate change is critical for the sustainability of the agro-processing and livestock industry,” he said.

CGCC intends to work with FIs who are supportive of providing Green Financing to support the commercial biogas technologies to assist in reducing greenhouse gas emissions, it said.

With the technical expertise and support from BTIC in biogas technology, CGCC is committed to working with other stakeholders to promote access to financing clean energy.

BTIC director Lor Lytour said, “The MoU will enable all key actors, including BTIC, CGCC, and its bank partners as well as other stakeholders to work together closely and more effectively on a number of key priorities to deliver the response to the needs of Cambodia agribusiness in uptaking this biogas technology which is proven as an effective and integrated waste management solution.”

“We believe this partnership will foster the long-term growth in commercial animal production and agro-processing by promoting alternative and renewable energy and proper waste management while contributing to the government’s commitment to combating climate change,” he added.

UNIDO’s Country Representative Narin Sok said that investment in this type of clean energy will generate a great potential of economic, environmental, and social benefit to the users, farm owners, investors, and society.

Credit to: Khmer Times, Published on 25 January 2022

Find out more about this partnership click here

លោក John Bell អគ្គនាយកធនាគារ ជីប ម៉ុង និង លោក Wong Keet Loong អគ្គនាយក សាជីវកម្មធានាឥណទានកម្ពុជា (ស.ធ.ក.) បានចុះហត្ថលេខា លើកិច្ចព្រមព្រៀងធានាឥណទាន ដែលប្រព្រឹត្តិឡើងនៅថ្ងៃទី១៣ ខែមករា ឆ្នាំ២០២២ នៅធនាគារ ជីប ម៉ុង សាខាមជ្ឈមណ្ឌល ជីប ម៉ុង បាក់ទូក ដើម្បីផ្តល់ការធានាលើកម្ចីដែលខ្វះទ្រព្យបញ្ចាំ សម្រាប់ពង្រីក និងទ្រទ្រង់ អាជីវកម្ម ជាពិសេសសម្រាប់សហគ្រាសធុនតូច-មធ្យម នៅកម្ពុជា។

ឆ្លៀតក្នុងឱកាសនោះផងដែរ លោក John Bell បានមានប្រសាសន៏ថា៖ “ធនាគារ ជីប ម៉ុង តែងតែឈរលើគោលជំហរជួយគាំទ្រដល់អាជីវកម្ម និងសហគ្រាសធុនតូច-មធ្យម នៅកម្ពុជា តាមរយៈការផ្តល់ប្រាក់កម្ចីចំនួនច្រើន ជាមួយអត្រាការប្រាក់ទាប និងសំណងរយៈពេលវែង។ លើសពីនេះទៅទៀត ធនាគារ ជីប ម៉ុង ក៏តែងតែស្វាគមន៏នូវរាល់កិច្ចសហការ ពីគ្រប់ភាគីពាក់ព័ន្ធក្នុងគោលដៅជួយអភិវឌ្ឍន៏ដល់អាជីវកម្ម និងសហគ្រាសធុនតូច-មធ្យមឱ្យកាន់តែរឹងមាំ និងមាននិរន្តរភាព។”

លោកបានបន្ថែមថា៖ “កិច្ចព្រមព្រៀងរវាង ធនាគារ ជីប ម៉ុង និង សាជីវកម្មធានាឥណទានកម្ពុជាក្នុងពេលនេះ នឹងជួយឱ្យអតិថិជនរបស់ធនាគារ ជីប ម៉ុង កាន់តែមានលទ្ធភាពខ្ពស់ក្នុងការទទួលបានកម្ចី បើទោះបីជាពួកគេពុំមានទ្រព្យតម្កល់គ្រប់គ្រាន់ក្តី។ កិច្ចសហការនេះ គឺពិតជាមានផលប្រយោជន៏ច្រើនមែនទែន មិនថាចំពោះអតិថិជន ចំពោះធនាគារ ក៏ដូចជាចំពោះសេដ្ឋកិច្ចជាតិទាំងមូល ព្រោះថាម្ចាស់អាជីវកម្មខ្នាតតូចនិងមធ្យមដែលកំពុងត្រូវការជំនួយផ្នែកហរិញ្ញវត្ថុ អាចស្នើកម្ចីពីធនាគារ ជាមួយលក្ខខណ្ឌប្រសើរជាងមុននិងចំនួនកម្ចីច្រើនជាងមុន ក្រោមកិច្ចធានាពីសាជីវកម្មធានាឥណទានកម្ពុជា។

លោក Wong Keet Loong ក៏បានគូសបញ្ជាក់ផងដែរថា៖ “ស.ធ.ក. មានសេចក្តីសោមនស្សរីករាយក្នុងការចុះហត្ថលេខាលើកិច្ចព្រមព្រៀងភាពជាដៃគូដំបូងគេបង្អស់សម្រាប់ឆ្នាំថ្មី ២០២២នេះ ជាមួយធនាគារ ជីប ម៉ុង។ ធនាគារជីប ម៉ុង នឹងក្លាយជា គ្រឹះស្ថានហិរញ្ញវត្ថុចូលរួមបន្ថែមរបស់ ស.ធ.ក. សរុបចំនួន ២២  ក្នុងការផ្តល់ប្រាក់កម្ចីដែលមានការធានា ដើម្បីគាំទ្រដល់បណ្ដាសហគ្រាសធុនតូច និងមធ្យម។”

លោកបានបន្តថា ៖ “ខណៈដែលសកម្មភាពអាជីវកម្មមានការរីកចម្រើន តម្រូវការកម្ចីសម្រាប់ជាទុនបង្វិល ឬការពង្រីកអាជីវកម្ម  ក៏នឹងមានការកើនឡើងដែរ។ ការធានាឥណទាននឹងផ្តល់អត្ថប្រយោជន៍ដល់ម្ចាស់អាជីវកម្ម លើតម្រូវការទ្រព្យបញ្ចាំពីធនាគារ នៅពេលស្នើសុំកម្ចី។ ស.ធ.ក. មានសុទិដ្ឋិនិយមថា អាជីវកម្ម រួមទាំងសហគ្រាសធុនតូច និងមធ្យម កាន់តែច្រើន  នឹងទទួលបានអត្ថប្រយោជន៍ពីការធានាឥណទាននេះ។”

 គួររំលឹកផងដែរថា តាមរយៈកិច្ចព្រមព្រៀងរវាងធនាគារជីបម៉ុង ជាមួយសាជីវកម្មធានាឥណទានកម្ពុជានេះ នឹងអាចជួយសម្រួលដល់ម្ចាស់អាជីវកម្ម និងសហគ្រាសធុនតូច-មធ្យមដែលមានលទ្ធភាពសង និងកំពុងត្រូវការកម្ចីសម្រាប់អភិវឌ្ឍន៏អាជីវកម្ម ប៉ុន្តែខ្វះទ្រព្យបញ្ចាំ ឥឡូវនេះពួកគេអាចធ្វើការស្នើកម្ចីពីធនាគារ ជីប ម៉ុង បានដោយមានទំនុកចិត្ត។

អំពីធនាគារ ជីប ម៉ុង

ធនាគារ ជីប ម៉ុង ជាធនាគារពាណិជ្ជបែបឌីជីថល បង្កើតឡើងនៅខែមករា ឆ្នាំ២០១៩ និងមានក្រុមហ៊ុន ជីប ម៉ុង ជាភាគទុកនិកដ៏រឹងមាំ។ ក្នុងប្រតិបត្តិការជាង៣ឆ្នាំមកនេះ ធនាគារ ជីប ម៉ុង មានទ្រព្យសកម្មសរុបជាង ៨០០លានដុល្លារអាមេរិក ដែលក្នុងនោះឥណទានសរុបកើនឡើងជាង ៥០០លានដុល្លារអាមេរិក និងទទួលបានប្រាក់បញ្ញើពីអតិថិជនជាង ៧០០លានដុល្លារអាមេរិក។

អំពីសាជីវកម្មធានាឥណទានកម្ពុជា (ស .ធ.ក.)

ស.ធ.ក. គឺជា សហគ្រាស សាធារណៈ ស្ថិតនៅក្រោមអាណាព្យាបាលបច្ចេកទេស និងហិរញ្ញវត្ថុ របស់ក្រសួងសេដ្ឋកិច្ច និងហិរញ្ញវត្ថុ និងបានចុះបញ្ជីជាផ្លូវការ នៅខែវិច្ឆិកា ឆ្នាំ២០២០។ បេសកកម្ម ចម្បងរបស់ ស.ធ.ក. គឺ ផ្តល់ ការធានា ឥណទាន លើក ម្ចី ដែល ផ្តល់ ឱ្យ អាជីវកម្ម ដើម្បី ចែករំលែក ហា និ ភ័យ ជាមួយ ស្ថាប័ន ផ្តល់ ក ម្ចី និង បង្កើន បរិយាប ន្ន ហិរញ្ញវត្ថុ។

គិតត្រឹមថ្ងៃទី១១ ខែមករា ឆ្នាំ២០២២នេះ ស.ធ.ក បានផ្តល់ការធានាឥណទាន ដល់អាជីវកម្មសរុបចំនួន១៩៩ ក្នុងទំហំទឹកប្រាក់២២លានដុល្លារអាមេរិក ដែលក្នុងនោះ ៩៥% នៃចំនួនអាជីវកម្មដែលទទួលការធានាសរុប បានផ្តល់ជូនទៅសហគ្រាសធុនតូចនិងមធ្យម (SME)៕

Credit to: ក្រសួងព័ត៌មាន Ministry of Information

Credit Guarantee Corporation of Cambodia (CGCC) is organizing a virtual seminar on “Credit Guarantee – Benefits & Opportunities to Support Small and Medium (SME) Development” today with support from the Ministry of Economy and Finance, Asian Development Bank (ADB), and the United Nations Capital Development Fund (UNCDF).

The seminar brings together relevant stakeholders including the Government, Development Partners, Financial Institutions, and business representatives to discuss the benefits and opportunities of using credit guarantees to support business survival and expansion.

The extent to which credit guarantees can contribute to restoring the economy depends on the lenders’ and borrowers’ perspectives toward credit guarantees.

The seminar, therefore, focuses the discussion on their perspectives toward credit guarantees. All speakers shared a common view that lack of collateral is one of the main challenges for businesses to access formal loans.

They agreed that credit guarantees can support banks and Micro-Finance Institution (MFIs) to lend out more to businesses, especially those who lack collateral.

The seminar also digs into stakeholders’ ongoing efforts to improve SME access to finance for the economic re-opening in Cambodia.

The Government has introduced many policy interventions to support SME access to finance. In addition, relevant stakeholders have spared efforts which include, among others, increasing financial literacy, introducing innovative financial solutions, and upgrading financial sector infrastructure. The panelists demonstrated their commitment to continue supporting SMEs’ access to financial services.

Prominent speakers in this seminar include the President of Federation of Associations of SMEs of Cambodia (FASMEC), Vice President of Cambodia Women Entrepreneurs Association (CWEA), President of Young Entrepreneurs Association of Cambodia (YEAC), Chairman of Cambodia Microfinance Association & CEO of AMK Microfinance, CEO of Canadia Bank, Deputy Director-General of General Department of Policy of Ministry of Economy and Finance, and Senior Financial Sector Specialist from the ADB, and Senior Regional Technical Advisor from UNCDF, and CGCC’s management.

Credit to: Khmer Times

With support from the Credit Guarantee Corporation of Cambodia,  business owners affected by the pandemic can now take loans from Wing Bank to resume their operation.

Wing Bank (Cambodia) Plc and the Credit Guarantee Corporation of Cambodia (CGCC) officially kicked off the credit guarantee agreement to collaborate on disbursing loans to business operators in Cambodia who may face difficulty obtaining loans due to lack of sufficient collaterals.

This partnership will involve Wing Bank taking part in the Credit Guarantee Schemes with CGCC to support those businesses adversely affected by the Covid-19 pandemic including micro, small and medium enterprises to large firms to ease their access to formal loans for working capital and investment or business expansion.

ABA Bank, the country’s leading commercial bank, and Credit Guarantee Corporation of Cambodia Plc. (CGCC), a state-owned enterprise of the Royal Government of Cambodia officially signed the Credit Guarantee Agreement on 11 November 2021. Under the Agreement, ABA will provide loans guaranteed by CGCC to support micro, small and medium enterprises (MSMEs) and large companies in Cambodia on business expansion, investment, and working capital.

This partnership enables ABA Bank to support and assist business entities who are financially viable but lack collateral when requesting loans by using guarantees under the CGCC’s Credit Guarantee Scheme (CGS). Through this Agreement, ABA Bank can assist more businesses, especially SMEs, by offering them more accessible and quicker applications and higher loans to prioritized sectors.

ABA’s Chief Executive Officer, Askhat Azhikhanov commented, “SMEs play a vital role in the economy, and traditionally are in the focus of Cambodian financial institutions. Due to the regulation and risk management,  banks require potential borrowers to comply with a list of criteria, including credit history, financial condition, and collateral. Not all of them meet those criteria, while the pandemic affected even more businesses. The Credit Guarantee Scheme initiated by the Royal Government provides a beneficial risk-sharing mechanism between ABA and CGCC whereby businesses not fully eligible for a bank loan can still access formal financing from ABA. The Bank will consider such requests based on its credit policy and loan application assessment, while the priority will be given to agriculture, industry, and services sectors of the economy.”

“We at ABA Bank partner with CGCC in providing SME businesses with easier access to loans and restate our commitment to benefit Cambodia and its people in line with our corporate mission and values,” he added.

Mr. Wong Keet Loong, Chief Executive Officer of CGCC, mentioned that “CGCC was set up with the objective of increasing loan growth in the banking sector.  With the credit guarantee, financial institutions can provide higher loan margins.  As the economy is reopening, there will be a higher demand for loans from SMEs to increase their business.”

“CGCC’s guarantee will act as part of the collateral for the bank loans, thus, reducing the collaterals required from the borrowers.  ABA Bank, being one of the top banks, has a strong loan growth and its wide network of branches will be strategic for CGCC to accomplish its objectives. We look forward to ​this partnership to reach out to more SMEs”, he added.

In March 2021, the CGCC launched the $200 million Business Recovery Guarantee Scheme (BRGS) to help businesses, including micro, small, and medium-sized businesses (MSMEs), as well as large corporations, to gain better access to formal loans from participating financial institutions (PFIs). To expand support to SMEs, Co-financing Guarantee Scheme (CFGS), the second credit guarantee scheme was launched in September 2021, for guarantee on loans under the SME Bank’s Co-Financing Scheme Phase II. Under this Agreement, ABA becomes one of the 19 PFIs committed to these schemes in providing easy access to loans for businesses hit hard by the COVID-19 outbreak.

Call the CGCC Call Center at 023 722 123 or the ABA Call Center at 023 225 333 for more information on the services offered by CGCC and ABA.

Credit to: Khmer Times