CGCC

CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee

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 Guarantee
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee
CGCC visits PFIs provincial branches in Kampong Chnang, Pursat, Battambang & Pailin to Enhance Collaboration on the Credit Guarantee

CGCC accredited as Cambodia’s first bond issuance guarantor

The Securities and Exchange Regulator of Cambodia (SERC) under the Non-Bank Financial Services Authority (FSA) of the Ministry of Economy and Finance (MEF) has accredited the state-owned Credit Guarantee Corporation of Cambodia (CGCC) as the country’s first  guarantor for bond issuance to support local companies in raising funds, said a statement.

The statement obtained by Khmer Times last Friday pointed out that the SERC issued a formal letter to accredit CGCC as Cambodia’s first bond issuance guarantor on August 22, 2023, which will play an important role in the development of the securities sector in the country through being a third party in making payments of timely interest and principal.

CGCC has developed a policy framework on bond guarantee that was approved by Deputy Prime Minister and Minister of MEF Aun Pornmoniroth on May 17, 2023, in response to the sustainable development of Cambodia’s financial market through the company’s delivering guarantee on bond issuance services to corporations to raise funds for business development.

“The guarantee on bond issuance service can provide further support to encourage bond issuance by local companies, attract investors to invest in corporate bonds, increase the liquidity of riel from the bond issuance and improve the credit rating of corporate bonds, in which response to the sustainable development of the financial market,” said the statement.

Sou Socheat, Director General of SERC, told Khmer Times last Friday that accrediting the CGCC as a guarantor is another milestone for our bond market development and the presence of CGCC in the securities market is expected to help to boost the bond market development in Cambodia through building more market confidence and lower the issuance cost.

“As for our regulation, we cover only corporate bonds but we also don’t prohibit [the guarantor] from guaranteeing the government bonds,” said Socheat, when asked whether CGCC or a bond guarantor can guarantee government bonds or not. “So, it should be their answer if they want to provide guarantee to government bond,” Socheat pointed out.

Wong Keet Loong, CEO of CGCC, said that CGCC has become the first bond guarantee institution in Cambodia to corporate bonds listed on the country’s stock market Cambodia Securities Exchange (CSX), which is a step towards developing the bond market in Cambodia and the company will apply for a credit rating from the Rating Agency of Cambodia.

“Private sector businesses can now raise funds via issuing a bond to support their business expansions [as] bond issuance is another option for private sector companies to obtain funds besides loans from financial institutions,” said Keet Loong, adding that a credit rating will enhance the bond rating of the corporate bond that is guaranteed by CGCC as the guarantor.

“With our guarantee, bond investors will have added confidence in investing in corporate bonds. Local financial institutions including insurance companies can now become bond investors with guarantees. As a local bond guarantor, we hope to attract more foreign funds to the stock exchange,” said Keet Loon. CGCC gets technical and financial support from MEF.

Ros Seilava, Secretary of State of MEF, said allowing CGCC to expand its business to bond guarantee is a long-term consideration of the government to make full use of CGCC’s role to participate in the development of the bond market through guarantee on bond issuance in addition to CGCC’s on-going implementation on loan guarantee in the banking sector.

“[It] reflects the government’s strong commitment to ensure the sustainability of the company’s businesses to support the development of small and medium enterprises in our country,” said Seilava, who is also the chairman of CGCC with its primary mission to provide credit guarantee to improve financial inclusion and support the growth of SMEs in Cambodia.

Credit to: Khmer Times

Meet the Business Owner Who Received a Loan Guaranteed by CGCC

Seeing that the financial awareness of Cambodian people is still limited, and their use and management of finances are not very effective, my husband and I started this company RithyPul in 2012 to spread the knowledge and share financial advice. Until 2020, our business was affected by the COVID-19, however we can still get through it until today. The most difficult factor at that time was the lack of working capital to support day-to-day business operations. At that time, we used our property as collateral to apply for a loan, but we still could not get enough capital as needed. The best solution at that time was to have a CGCC’s Participating Financial Institution, CAMMA Microfinance, advising us to apply for a CGCC guaranteed loan for our business, which would allow us to obtain a loan without collateral to use as working capital.

After obtaining guaranteed loans from Participating Financial Institution of CGGC, we are also able to address several key issues such as marketing, advertising, and overall business operation costs. We have expanded our business with more staff, and customers becoming more aware and acquainted with the use of our services has increased steadily. On the other hand, we also have more time to think about new strategies without having to worry about capital issues.

The success of a business depends on many factors, including having enough working capital, that is the most important factor for every business. We would like to thank the Government for establishing CGCC to support our business and other MSMEs on access to finance, as well as to improve financial inclusion in the country.

Read and Download in PDF: Mrs. Bopha Pen, Executive Director Rithipul Training Center

Understanding Adverse Selection and Moral Hazard

Adverse selection and moral hazard are the problems arising from information asymmetry that can lead to market failure. Information asymmetry occurs when parties of a transaction do not have equal relevant information to execute a fair transaction. For instance, when buying a second-hand car, the buyer does not know its defects as much as the owner does. The owner would know an underlying price for his car, while the buyer may not have equal information to negotiate down to a fair price that best matches the car’s true value. In this case, the information asymmetry can lead to second-hand car market failure by preventing the buying-selling transaction from happening because the buyer believes whatever price the seller agrees to sell would be more advantageous to the seller. Information asymmetry is the term coined by Nobel Prize winner economist George Akerlof in 1970.

Information asymmetry can be observed in different types of transaction. In bank loans, borrowers generally know better about their own repayment capacity than the bank from which they seek the loans, making it difficult for the banks to determine a fair price (i.e., interest rate) that best suits the borrower’s creditworthiness. In a credit guarantee, information asymmetry is when a lending institution that seeks guarantees on loans has more information about the loans and the borrowers than the credit guarantor. Information asymmetry can lead to two problems – adverse selection and moral hazard.

When there is an information asymmetry, the banks might be unable to distinguish between bad and good borrowers. Facing this risk, the banks may set an interest rate that is too high for good borrowers. Good borrowers will then leave the market; only bad borrowers remain to seek loans. This is called adverse selection. As such, one way to increase credit market efficiency is to narrow the information gap between lenders and borrowers. That is why banks usually require as much information as possible from the borrowers before lending to reduce the risk of adverse selection. Adequate, reliable, and timely information about the borrowers would help the banks to narrow information gaps and offer fair loan conditions that can make both parties better off. Similarly, an adverse selection in credit guarantee is the risk that the lending institution, having better information about the borrowers and loans, only selects the bad loans for guarantees from a credit guarantee institution.

Read more: Understanding Adverse Selection and Moral Hazard 

Wing Bank, CGCC, and FASMEC to Offer Guaranteed Loans and Market Accessibility to SMEs

Wing Bank (Cambodia) Plc, Credit Guarantee Corporation of Cambodia (CGCC), and Federation of Association for Small and Medium Enterprises of Cambodia (FASMEC) have forged an impactful strategic partnership—a visionary move aimed at boosting the growth of Small and Medium Enterprises (SMEs) in Cambodia.

Wing Bank, CGCC, and FASMEC to Offer Guaranteed Loans and Market Accessibility to SMEs
Wing Bank, CGCC, and FASMEC to Offer Guaranteed Loans and Market Accessibility to SMEs

The collaboration is a strategic effort to address collateral challenges faced by SMEs when applying for bank loans and enhance financial literacy among the SMEs, exclusively for FASMEC members across the Kingdom. This will be achieved by providing financial solutions by Wing Bank on a collateral-free basis and secured with credit guarantees from the state-owned CGCC.

CEO of CGCC, Wong Keet Loong, said, “We are excited to partner with Wing Bank and FASMEC to support FASMEC’s SME members in increasing their access to loans through potential guarantees.”

Wing Bank, CGCC, and FASMEC to Offer Guaranteed Loans and Market Accessibility to SMEs
Wing Bank, CGCC, and FASMEC to Offer Guaranteed Loans and Market Accessibility to SMEs

“This partnership will provide valuable resources for FASMEC, enabling their members to grow and succeed by accessing financing and improving financial literacy, aligning with our goals at CGCC,” Wong highlighted.

CGCC, the first state-owned credit guarantee institution operating under the Ministry of Economy and Finance, aims to bolster local businesses by offering timely credit support. As of July 2023, CGCC has successfully granted credit guarantees amounting to $139.5 million, benefiting 1,648 enterprises. Nearly 92 per cent of these are micro, small, and medium-sized enterprises (MSMEs). In comparison, the remaining 8 per cent are larger businesses.

“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.”

SMEs who are members of FASMEC can access not only finance guaranteed by CGCC through Wing Bank but also enjoy broader opportunities to connect with potential customers, vendors, and suppliers. This is made possible through Wing’s ecosystem.

Wing Bank provides convenient retail solutions through its WingPay platform, supporting transactions within the Wing ecosystem’s B2B and B2C platforms, including Wingmarket, WingAgri, and Wingmall.

Wingmarket acts as a supply chain solution, streamlining supply chain management for SMEs and corporate businesses. WingAgri serves as a reliable agriculture e-commerce platform, connecting farmers with buyers through a virtual marketplace. Wingmall, a trusted B2C platform, is widely used by numerous restaurants in Cambodia, ensuring seamless transactions and enhancing the customer experience.

The strategic partnership between CGCC, FASMEC, and Wing Bank is poised to foster a supportive environment for financial accessibility, effectively addressing the hurdles SMEs encounter in securing loans, and expanding their market accessibility.

“We are delighted to partner with Wing Bank and CGCC, as it presents a remarkable opportunity for FASMEC members SMEs who face challenges in accessing finance due to a lack of collateral,” said Okhna Te Taing Por, President of FASMEC. “This partnership will enable them to expand their businesses and achieve substantial growth.”

According to local media reports, the Ministry of Industry, Science, Technology, and Innovation registered 43,974 small and medium enterprises (SMEs) last year. These registered SMEs provided 444,504 jobs for Cambodian individuals. SMEs comprise about 90 per cent of all enterprises, contributing to 58 per cent of the GDP and employing over 70 per cent of the workforce.

FASMEC Members can conveniently visit any Wing Bank branches to apply for a loan, where dedicated staff are ready to assist them with all their financial needs. The members can also approach Wing Bank staff during the training sessions organized by FASMEC throughout the country.

Credit to: Khmer Times, Published on 23 August 2023

 

Signing MoU on Strategic Partnership to Support Small and Medium Enterprises in Access to Guaranteed Loans Between CGCC, FASMEC, and Wing Bank

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
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
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
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
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
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
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.

Credit Guarantees to SMEs Reach Nearly $140 Million

The Credit Guarantee Corporation of Cambodia (CGCC) provided credit guarantees of $139.5 million to businesses for their working capital expansion as of July 2023.

The credit guarantee has been provided to 1,648 businesses, according to a report on Friday.

CGCC said in a statement that the total amount of outstanding guaranteed loans was $107.51 million, while the total amount of outstanding guaranteed amount was $77.48 million.

There are 1,510 micro, small and medium-sized businesses (MSME) and 138 large businesses get their loan guaranteed, the report said, adding that about 677 were women-owned.

The report stated that a significant portion of the loan guarantees were used for working capital, investment, business expansion, and capital expenditures.

CGCC, the first credit guarantee institution in the country under the Ministry of Economy and Finance, was established in August 2020, during the Covid-19 pandemic to provide timely credit to support the rehabilitation and sustainability of local businesses.

Under the CGCC’s scheme, more than 30 participating financial institutions (PFIs) participate in providing credit as working capital investment and business expansion to SMEs.

Rath Sophoan, CEO and Country Head of Maybank Cambodia, said more credit has been disbursed to SMEs as banks and SMEs have learnt from each other to find the common points of financial assessments.

“With the economy recovering to get back to normal, it is time for SME growth. It requires financing solutions and more banks will increase providing credit to SMEs as banks and SMEs have worked together to find solutions and they understand each other more,” Sophoan said at a forum on supporting SMEs on legal and financial insights for sustainable growth at Olympia City Hotel on Friday.

The credit guarantee scheme has contributed to strengthening entrepreneurship and improving financial inclusion in Cambodia by facilitating the smooth distribution of loans, said Mey Vann, Secretary of State at the Ministry of Economy and Finance.

“The CGCC has played a key role in serving the needs of SMEs in Cambodia, which are struggling in the wake of the Covid-19 pandemic and the inflation crisis, and need credit from banks for their business,” Vann said.

The government will continue to implement supportive policies through credit guarantee mechanisms to ensure the development of small and medium enterprises, he added.

Credit to: Khmer Times, Published on 21 August 2023

 

CGCC Participated in the 35th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Mongolia

On 7 to 11 August 2023, CGCC Delegation, led by H.E. Ros Seilava, Secretary of State of the Ministry of Economy and Finance (MEF), and Chairman of CGCC, attended the 35th ACSIC Conference in Ulaanbaatar, Mongolia, hosted by Credit Guarantee Fund of Mongolia (CGFM), under the theme “Looking ahead: fostering green financing for sustainable development”.

CGCC Participated in the 35th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Mongolia
CGCC Participated in the 35th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Mongolia

During the conference, H.E. Chairman of CGCC gave a warm greeting remark to all the participants on credit guarantee mechanism, as a supplement to the sustainable financial state in Cambodia.

CGCC Participated in the 35th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Mongolia
CGCC Participated in the 35th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Mongolia

Moreover, Mr. KL Wong, CEO of CGCC, was also invited as a speaker to the panel discussion on “Design, Implementation and Monitoring: The Role of Credit Guarantee Schemes in Addressing the Perceived Higher Risks Associated with Green Finance Investments”.  In this panel discussion, Mr. KL Wong shared the progress of CGCC in developing a guarantee scheme to support green financing for sustainable development by collaborating with various government ministries and development agencies in supporting the country’s commitment to participate in reducing GHG emissions by about

CGCC Participated in the 35th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Mongolia
From Left to Right: Mr. Tsogtsaikhan Sarantuya, Chairman of the 35th ACSIC Conference and Acting Executive Director of Credit Guarantee Fund of Mongolia (CGFM), Mr. Jambaltseren Tumur-Uya, Secretary of State of the Ministry of Food, Agriculture and Light Industry and Chairman of the Board of the CGFM, H.E. Ros Seilava, Chairman of CGCC, and Mr. Wong Keet Loong, CEO of CGCC

Through this conference, delegates from members/observers also got the chance to share and exchange their respective views on respective topics around green financing for sustainable development through expert insight discussions, plenary discussions, fireside chats, panel discussions, and keynotes, in which to bring the solidarity effort toward building and developing the green financing, a key driver of positive change, as it’s not just relevant but vital in the face of current environmental challenges.

The 35th ACSIC conference was participated by approximately 120 delegates representing members/observers of ACSIC from 13 countries in Asia including Cambodia, Indonesia, India, Japan, Korea, Malaysia, Mongolia, Nepal, Papua New Guinea, Philippines, Sri Lanka, Taiwan, and Thailand.

ACSIC is the cooperation of largest Asia’s credit guarantee organization established in 1987, designed to improve the credit guarantee system, which currently is participated by 19 credit institutions of 13 Asian countries.

CGCC Participated in the 35th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Mongolia
CGCC delegates during the official meeting with KODIT delegates: Mr. Choi Won Mok, Chairperson and CEO, Mr. Youn Jung-In, Policy Advisor, Mr. Hur Seung-Wook, Chief Director
CGCC Participated in the 35th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Mongolia
CGCC Participated in the 35th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Mongolia

 

CGCC Provides Guarantee Management System “GMS” Sharing and Training Sessions to Participating Financial Institutions (PFIs)

CGCC has​ developed the very first Guarantee System which is under the name of Guarantee Management System “GMS” that allows all Participating Financial Institutions (PFIs) to submit all requests especially Guarantee Application processes and other transactions to CGCC through digitalization.

The GMS provides automation and streamlining to support all users by reducing the manual works for PFIs and CGCC giving the accessibility and coordination to provide Guarantee Loans fast with accuracy and security to PFIs.

CGCC has conducted training sessions about the system within 7 weeks which were starting from 05th July 2023 until 10th August 2023 at CGCC Office to 21 PFIs by having attendees in total of 80 management & staff from the PFIs.

CGCC Provides Guarantee Management System "GMS" Sharing and Training Sessions to Participating Financial Institutions (PFIs)
CGCC Provides Guarantee Management System “GMS” Sharing and Training Sessions to Participating Financial Institutions (PFIs)
CGCC Provides Guarantee Management System "GMS" Sharing and Training Sessions to Participating Financial Institutions (PFIs)
CGCC Provides Guarantee Management System “GMS” Sharing and Training Sessions to Participating Financial Institutions (PFIs)

Click here to learn more about: Dissemination Seminar on “Guaranteed Loans to Support the Development of Small and Medium Enterprises” in Pailin Province

CGCC Joined the Blood Donation with Business Development Center & the National Blood Transfusion Center

In the morning of August 9, 2023, CGCC staff joined​ Business Development Center & the National Blood Transfusion Center at the Business Development Center to donate blood to help save the lives of patients who are in need of blood.