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Meet the Business Owner Who Received a Loan Guaranteed by CGCC

Posted on by Sorn Chhorvyvatey

My dream is to invest in a business that can contribute to people’s well-being because good health and mental well-being are essential for a good quality of life. This is the main reason why my wife and I started two businesses, ADK Rice and Muny Clinic. I established ADK Rice company because I believe that rice is the a primary food for many people, and with the increasing population and decreasing agricultural land, ensuring a stable rice supply is crucial. My wife and I jointly established Muny Clinic with the vision of providing affordable and high-quality healthcare services.

Through my experience working for a large rice exporter in Cambodia, I became aware of the challenges faced by farmers in rural areas, so I decided to start retailing rice for local consumption, called Angkor Dey Khmer. In 2021, the business expanded and evolved into ADK Rice (Cambodia), a company that produces high-quality rice that complies with food safety standards and provides farmers with a sustainable market and increased their income by contract farming supply to my company. Muny Clinic is a medical care and treatment clinic that was established in 2018 by my wife and me. We are committed to providing quality and affordable healthcare services to Cambodians, with a particular focus on treating diabetes and offering regular health check-ups to prevent serious diseases.

The goal of doing business is to develop and grow. My clinic business is no different. We want to acquire modern medical equipment to enhance the clinic’s standards and grow our business. We have decided to apply for a loan from a bank to make our dreams a reality. However, we do not have enough collateral or land title to pledge with the bank. This challenge was overcome with the help of CGCC credit guarantees, which alleviated this challenge and enabled me to get a loan from Prince Bank to purchase clinical equipment.

I obtained a CGCC guarantee on my loan not by chance, but because of the knowledge I gained from participating in the CGCC Capacity Building Program called “EPIC” series 1 of 2024 in May 2024. Through EPIC, I learned about CGCC and partner banks that can provide loans to potential businesses with a clear business plan but face challenges due to  lack of collateral. After receiving the guaranteed loan, I purchased additional medical equipment for our new clinic building, which is in line with the purpose of that guaranteed loan, business plan, and investment plan. In addition, I also plan to apply for additional loans for working capital to buy paddy rice from farmers to increase the rice production of my AKD rice in the future.

As a business owner, I acknowledge that understanding financial literacy is very important because it allows us to think in detail about investing in all aspects, such as purchasing assets to generate more income rather than buying any non-income-generating assets. On the other hand, with financial literacy, we can effectively manage human resources by taking into account factors such as the number of employees, salaries, incentives, and benefits.

Read and Download in PDF: Meet the Business Owner Who Received a Loan Guaranteed by CGCC

 

Understanding Market Structure

Posted on by Sorn Chhorvyvatey

What products or services are your business offering? Who else in the market is offering similar products or services? What is your business strategy to stay ahead of the competition? The answers to these questions relate to the market structure in which your business operates. Market structure refers to the characteristics of a market, including the number of firms, the nature of products and services, freedom of entry and exit, and so on. Market structure plays a pivotal role in the strategic decision-making of a business – how to operate and compete.

Perfect Competition

In Phnom Penh, if you wish to purchase a pure drinking water bottle to satisfy your thirst on a hot day, you have many options like Vital, Angkor Puro, Dasani, Oral, Hi-Tech, Aruna, Cambodia, etc. Despite the different branding, these products share a very similar taste and are generally priced at approximately 0.25 cents per bottle, representing the equilibrium price in this market. If sold at the same place and in the same setting, any products priced above this equilibrium price will eventually be out of the market. The customer is indifferent to switching between these products for the lowest cost. This market of pure drinking water can be a close example of perfect competition.

Perfect competition is a market structure where numerous firms offer identical products or services, and no single firm has the power to set the price. Buyers have complete information about the products and services, and the price is determined by supply and demand. Entry and exit into this market are extremely easy. The key to competing in this market is to set the price equal to the marginal cost, an additional cost for an additional output. 

It is indeed rare, if not impossible, to find perfect competition in real life. The conditions for perfect competition, where many firms offer the same products or services, buyers have all the information, and entry and exit are easy, are seldom met. However, perfect competition serves as a theoretical benchmark that helps us understand the dynamics of real-life markets.

Monopoly

When I rejoined the Ministry of Economy and Finance in 2010, I was involved in the first-ever Initial Public Offering (IPO) on the Cambodia Securities Exchange. As the first IPO in Cambodia, the listing process of Phnom Penh Water Supply (PPWSA) was challenging and time-consuming. PPSWA was eventually listed successfully in April 2012, raising around USD 20 million. Equity investment in PPWSA is considered safe because PPSWA is the only licensed water supply operator in Phnom Penh and Ta Khmao. PPWSA offers an indispensable service (clean water supply) and has no competitors in its authorized areas. PPWSA can set the price without worrying about losing customers. In other words, PPSWA is a monopoly.

Monopoly is the opposite of perfect competition. In a monopoly, there is only one seller of a particular product and many buyers. There are barriers to entry. A monopoly maximizes profit by producing outputs when the marginal revenue (an additional earning from selling one extra unit) equals the marginal cost, and by charging the maximum price consumers are willing to pay for that output. However, the pricing strategy of monopolies is usually under strict government regulation to ensure social welfare. Other firms operating in Cambodia that can be considered monopolies include Electricity of Cambodia (EDC), NagaCorp, CINTRI, and the company I am serving, Credit Guarantee Corporation of Cambodia (CGCC).

Oligopoly

If you ask Cambodian people which mobile network service they are subscribed to, chances are they are using either Cellcard, Smart, or Metfone. These are the three leading players in this industry, holding more than 90% of the market share. Cellcard, Smart, and Metfone fiercely compete with one another on all fronts—price, product innovation, and advertising. Several mobile network companies have tried entering the Cambodian market to compete with these players. Most of them withdrew, such as Beelines and QB. The mobile network industry is an oligopoly.

An oligopoly is a market in which a small number of firms dominate and compete. This industry is highly competitive, and entering it is extremely difficult. The strategy of one firm can influence the strategies of other firms. Because there are only a few players, they often cooperate to limit output and charge higher prices to maximize their shared profits. This behavior is called collusion, which refers to the cooperation among firms in an oligopoly to make joint decisions and act as if they were a monopoly.

Other oligopoly industries include grocery store chains (Lucky Supermarket, AEON Supermarket, and CHIP MONG Supermarket), the retailed petroleum industry (TOTAL, TELA, and CALTEX), and movie cinemas (Legends and Major Cineplex).

Firms operating in different market structures require different strategies to compete and operate. So, which market structure is the best? It depends. Each market structure has its pros and cons depending on the industry and the Government’s policy toward the industry.

Summary of Market Structure

Read and Download in PDF: Understanding Market Structure

 

Understanding Credit Guarantee-Interview with Participating Financial Institution (Prince Bank)

Posted on by Sorn Chhorvyvatey

1. What is Prince Bank’s perspective towards the credit guarantee schemes and why does Prince Bank partner with CGCC?

At Prince Bank, we have a clear vision of helping our customers achieve sustainable growth through comprehensive support and flexible lending options. Our strategic partnership with CGCC will bring us closer to this vision by providing entrepreneurs with better access to financing for their business expansion and growth, allowing them to operate with peace of mind. With our credit guarantee schemes, we firmly believe that our financial support will exceed our clients’ expectations.

2. How do the credit guarantee schemes benefit Prince Bank and your customers?

With the availability of credit guarantee schemes, both Prince Bank and its customers benefit from a reduced risk exposure for the bank and increased financing limits to meet business needs, regardless of the customers’ collateral availability.

3. So far, which type of loans does Prince Bank use the credit guarantees to support?

Since the inception of our partnership with CGCC, Prince Bank has utilized the credit guarantee to provide loans to customers as mentioned below:

  • Business Term Loan
  • Overdraft Loan
  • Trade Finance Facilities

4. How should the borrowers prepare themselves in order to get guaranteed loans from Prince Bank?

To borrow from Prince Bank, customers should diligently plan their business and determine their financial needs for growth. They can then consult with lending experts at any nearby Prince Bank branch for more information on available schemes. Once they have discussed and decided on a suitable scheme, they can submit a request to Prince Bank for further processing and approval based on its internal policy. CGCC will ultimately review this request for final approval on the proposed guaranteed scheme and amount, or Prince Bank will perform registration of the customer’s loan for CGCC’s guarantee after its internal approval.

5. What is the Prince Bank strategy/plan to further expand the disbursement of guaranteed loans in 2024 and also for the next year?

2024 was still a tough year for everyone, but Prince Bank is still open to lending to our customers, and we have spoken loud on our social media, website and newsagents on the availability of guaranteed schemes to help them if they don’t have sufficient collaterals for their borrowings. In 2025, we will continue our mission and commitment to provide financial support to our clients with a stronger collaboration with CGCC for existing and future suitable schemes.

Read and Download in PDF: Understanding Credit Guarantee-Interview with Participating Financial Institution (Prince Bank)

 

CMA and CGCC Forge Strategic Partnership to Enhance Financial Inclusion

Posted on by Sorn Chhorvyvatey

The Cambodia Microfinance Association (CMA) and the Credit Guarantee Corporation of Cambodia (CGCC) have officially signed a Memorandum of Understanding (MoU) to collaborate on promoting sustainable financial inclusion across Cambodia.

This official partnership was announced during the CGCC Annual Seminar on “Innovation of Credit Guarantee to Promote Green Financing” held here on Jan. 23 under the presidency of Ros Seilava, Secretary of State at the Ministry of Economy and Finance and Chairman of CGCC.

According to a joint press release, AKP received this morning, this strategic partnership aims to foster the growth of banking and financial institutions (BFIs) and support micro, small, and medium enterprises (MSMEs) through capacity development, digital financial services, and enhanced financial literacy.

Under the MoU, CMA and CGCC will collaborate to strengthen and develop the capacity of MSMEs, BFIs, and stakeholders through training, workshops, seminars, and research studies.

This partnership will also focus on advancing financial literacy and digital finance and promoting the development of green finance in Cambodia. Both organisations are committed to leveraging their resources to ensure the successful implementation of various initiatives to boost the financial sector’s contribution to the country’s economic development.

Oknha Hout Ieng Tong, a CMA representative, said this partnership marks a significant step toward advancing financial inclusion in Cambodia.

“By combining our expertise and resources, we can create a more robust financial ecosystem that supports the growth of MSMEs and contributes to the country’s sustainable development,” he said.

No Lida, CGCC’S Chief Executive Officer, said that there are opportunities for CGCC, CMA, and CMA’s members to use credit guarantees to increase lending to underserved businesses across the country.

“This MoU is a testament to our shared commitment to fostering economic growth and sustainability in Cambodia,” he said.

The MoU is effective for three years from the date of signing and outlines a framework for cooperation in achieving the shared objectives.

Both parties are dedicated to ensuring the confidentiality of shared information and successfully executing agreed initiatives. AKP

Credit to: Khmer Times, Published on 24 January 2025

 

GuarantCo and CGCC Sign Deal to Accelerate Sustainable Infrastructure Investment

Posted on by Sorn Chhorvyvatey

GuarantCo, part of the Private Infrastructure Development Group (PIDG), and the Credit Guarantee Corporation of Cambodia (CGCC) have signed a Framework Agreement as part of the PIDG Credit Enhancement Facility (CEF) initiative.

The initiative seeks to accelerate the development of domestic capital markets and enhance financial inclusion through developing onshore guarantee capability. The Framework Agreement encompasses counter- and co-guarantee support from GuarantCo and technical assistance from PIDG Technical Assistance to help boost CGCC’s capacity. The Framework Agreement is also aligned with the mandate and prioritisation from the Ministry of Economy and Finance, and the Securities and Exchange Regulator of Cambodia who are seeking to deepen the corporate and project bond market in Cambodia.

The Framework was signed alongside the first transaction between GuarantCo and CGCC, wherein GuarantCo has provided a 10-year, USD 7 million portfolio guarantee to CGCC. Marking GuarantCo’s fourth investment in Cambodia, the portfolio guarantee will allow CGCC to mobilise further bank lending towards small and medium-sized enterprises (SMEs) in the country, with a focus on businesses supporting the green transition.

SME development is a high priority for Cambodia where a lack of access to formal banking services is common due to the nascency of green financing in the country.

The Framework Agreement follows a Memorandum of Understanding (MoU) signed in August 2024, which seeks to increase and upscale CGCC’s capacity through its involvement in a range of large-scale Corporate and Project finance deals. CGCC and GuarantCo will look to execute counter- and co-guarantees under the Framework, with a particular focus on catalysing sustainable infrastructure financing via the capital markets in Cambodia.

The accompanying PIDG TA grant programme will support CGCC to develop its technical capabilities in capital markets, allowing both organisations to scale their impact in Cambodia.

Denesh Srishanker, Group Head, Credit Enhancement Facilities at PIDG, said: “The signing of this Framework Agreement and completion of its first transaction less than five months after our MoU with CGCC is testimony to the market acceleration we want to achieve together. Establishing in-country credit enhancement facilities is key to support local market development and is therefore an integral part of PIDG’s 2030 Strategy to mobilise innovative infrastructure projects across Africa and Asia.”

Chinmay Naralkar, Deputy CEO at GuarantCo, said: “We are delighted to put into place this Framework Agreement with the Credit Guarantee Corporation of Cambodia and whilst cementing it with an inaugural transaction. The Framework will support CGCC’s growth in providing progressive sustainable infrastructure financing through local capital markets to support a green transition. Aligned with our strategic plans, we look forward to continuing to build our momentum in Cambodia to the benefit of the environment and local people and their livelihoods.”

No Lida, CEO of the Credit Guarantee Corporation of Cambodia, said: “We are pleased to demonstrate early progress in our collaboration with GuarantCo and PIDG with this Framework and our first international deal. This initiative aligns with CGCC’s strategy to enhance our bond guarantee capacity and support the development of SMEs in Cambodia. We seek to embed the international best practices represented by GuarantCo and PIDG as we build our capacity. This is a true cooperation in which we will learn from each other’s expertise while driving forward sustainable infrastructure for Cambodia.”

Credit to: Kiripost, Published on 17 January 2025

Guarantco and CGCC Sign Framework Agreement and First Transaction Together To Accelerate Sustainable Infrastructure Investment In Cambodia

Posted on by Sorn Chhorvyvatey

Cambodia Investment Review

GuarantCo, part of the Private Infrastructure Development Group (PIDG), and the Credit Guarantee Corporation of Cambodia (CGCC) have signed a Framework Agreement as part of the PIDG Credit Enhancement Facility (CEF) initiative.

The initiative seeks to accelerate the development of domestic capital markets and enhance financial inclusion through developing onshore guarantee capability. The Framework Agreement encompasses counter- and co-guarantee support from GuarantCo and technical assistance from PIDG Technical Assistance to help boost CGCC’s capacity. The Framework Agreement is also aligned with the mandate and prioritisation from the Ministry of Economy and Finance, and the Securities and Exchange Regulator of Cambodia who are seeking to deepen the corporate and project bond market in Cambodia.

USD 7 Million Portfolio Guarantee To CGCC

The Framework was signed alongside the first transaction between GuarantCo and CGCC, wherein GuarantCo has provided a 10-year, USD 7 million portfolio guarantee to CGCC. Marking GuarantCo’s fourth investment in Cambodia, the portfolio guarantee will allow CGCC to mobilise further bank lending towards small and medium-sized enterprises (SMEs) in the country, with a focus on businesses supporting the green transition.

Read More: No Lida Appointed as CEO of Credit Guarantee Corporation of Cambodia

SME development is a high priority for Cambodia where a lack of access to formal banking services is common due to the nascency of green financing in the country.

The Framework Agreement follows a Memorandum of Understanding (MoU) signed in August 2024, which seeks to increase and upscale CGCC’s capacity through its involvement in a range of large-scale Corporate and Project finance deals. CGCC and GuarantCo will look to execute counter- and co-guarantees under the Framework, with a particular focus on catalysing sustainable infrastructure financing via the capital markets in Cambodia.

The accompanying PIDG TA grant programme will support CGCC to develop its technical capabilities in capital markets, allowing both organisations to scale their impact in Cambodia.

CGCC Is Testimony To The Market Acceleration

Denesh Srishanker, Group Head, Credit Enhancement Facilities at PIDG, said: “The signing of this Framework Agreement and completion of its first transaction less than five months after our MoU with CGCC is testimony to the market acceleration we want to achieve together. Establishing in-country credit enhancement facilities is key to support local market development and is therefore an integral part of PIDG’s 2030 Strategy to mobilise innovative infrastructure projects across Africa and Asia.”

Chinmay Naralkar, Deputy CEO at GuarantCo, said: “We are delighted to put into place this Framework Agreement with the Credit Guarantee Corporation of Cambodia and whilst cementing it with an inaugural transaction. The Framework will support CGCC’s growth in providing progressive sustainable infrastructure financing through local capital markets to support a green transition. Aligned with our strategic plans, we look forward to continuing to build our momentum in Cambodia to the benefit of the environment and local people and their livelihoods.”

No Lida, CEO of the Credit Guarantee Corporation of Cambodia, said: “We are pleased to demonstrate early progress in our collaboration with GuarantCo and PIDG with this Framework and our first international deal. This initiative aligns with CGCC’s strategy to enhance our bond guarantee capacity and support the development of SMEs in Cambodia. We seek to embed the international best practices represented by GuarantCo and PIDG as we build our capacity. This is a true cooperation in which we will learn from each other’s expertise while driving forward sustainable infrastructure for Cambodia.”

Credit to: Cambodia Investment Review, Published on 18 January 2025

 

GuarantCo, CGCC Sign FWA to Boost Financial Inclusion

Posted on by Sorn Chhorvyvatey

GuarantCo, part of the Private Infrastructure Development Group (PIDG), and the Credit Guarantee Corporation of Cambodia (CGCC) signed a Framework Agreement (FWA) to enhance domestic capital market financial inclusion through developing onshore guarantee capability.

This collaboration, part of the PIDG Credit Enhancement Facility (CEF) initiative, aims to develop onshore guarantee capabilities to foster financial inclusion and accelerate capital market growth, read a press release issued last Friday.

The agreement outlined a framework for counter- and co-guarantee support from GuarantCo and technical assistance from PIDG Technical Assistance to help boost CGCC’s capacity.

The FWA is also aligned with the mandate and prioritisation from the Ministry of Economy and Finance, and the Securities and Exchange Regulator of Cambodia who are seeking to deepen the corporate and project bond market in Cambodia.

The FWA was signed alongside the first transaction between GuarantCo and CGCC, wherein GuarantCo provided a 10-year, $7 million portfolio guarantee to CGCC.

Marking GuarantCo’s fourth investment in Cambodia, the portfolio guarantee will allow CGCC to mobilize further bank lending towards small and medium-sized enterprises (SMEs) in the country, with a focus on businesses supporting the green transition.

SME development is a high priority for Cambodia where a lack of access to formal banking services is common due to the nascence of green financing in the country.

The agreement follows a Memorandum of Understanding (MoU) signed in August 2024, which seeks to increase and upscale CGCC’s capacity through its involvement in a range of large-scale corporate and project finance deals.

CGCC and GuarantCo will look to execute counter- and co-guarantees under the FWA, with a particular focus on catalyzing sustainable infrastructure financing via the capital markets in Cambodia, said the statement.

The accompanying PIDG TA grant program will support CGCC in developing its technical capabilities in capital markets, allowing both organisations to scale their impact in Cambodia.

Denesh Srishanker, Group Head, Credit Enhancement Facilities at PIDG, said that the signing of this FWA and completion of its first transaction less than five months after our MoU with CGCC is testimony to the market acceleration we want to achieve together.

“Establishing in-country credit enhancement facilities is key to support local market development and is therefore an integral part of PIDG’s 2030 Strategy to mobilise innovative infrastructure projects across Africa and Asia,” said Srishanker.

Chinmay Naralkar, Deputy CEO at GuarantCo, said GuarantCo is delighted to put into place this FWA with the Credit Guarantee Corporation of Cambodia while cementing it with an inaugural transaction.

“The Framework will support CGCC’s growth in providing progressive sustainable infrastructure financing through local capital markets to support a green transition. Aligned with our strategic plans, we look forward to continuing to build our momentum in Cambodia to the benefit of the environment and local people and their livelihoods,” Naralkar said.

No Lida, CEO of the Credit Guarantee Corporation of Cambodia, said that this initiative aligns with CGCC’s strategy to enhance our bond guarantee capacity and support the development of SMEs in Cambodia.

“We seek to embed the international best practices represented by GuarantCo and PIDG as we build our capacity. This is a true cooperation in which we will learn from each other’s expertise while driving forward sustainable infrastructure for Cambodia,” he said.

Credit to: Khmer Times, Published on 20 January 2025

CGCC Participates as a Speaker in the Program My Money, My Life of Women’s Radio, Supported by the Association of Banks in Cambodia

Posted on by Sorn Chhorvyvatey

On December 19, 2024, Ms. Pin Manika, Manager of Marketing and Business Development of Credit Guarantee Corporation of Cambodia (CGCC), participated as a guest speaker in the program “My Money, My Life”, produced by Women’s Radio, supported by the Association of Banks in Cambodia (ABC), in which the topic was designed to raise public awareness about CGCC, conditions and procedures for obtaining guarantees, and especially the benefits of credit guarantee mechanisms for businesses. 

Through this program, Ms. Manika shared about the role, products, and services of CGCC to inform the public for more awareness of CGCC and enable business owners to benefit from using credit guarantee services by applying for business loans to CGCC’s Participating Financial Institutions including banks/microfinance institutions, in cases of lack or insufficient collateral. She also highlighted success story of a woman business owner who applied for guaranteed loan from CGCC’s partnered bank, giving more access to loans for essential uses. In addition, she also shared about CGCC’s involvement in capacity building and improving financial literacy for SMEs, which is one of CGCC’s priorities. 

As a recommendation and suggestion to business owners especially SMEs, she encouraged them to be well prepared to receive formal loans by preparing financial reports correctly and according to standards in order to develop themselves into standard business companies in the long term, and requested CGCC’s PFIs to continue to further promote to all employees and branches about CGCC’s credit guarantee services, which can help ease collateral requirements and improve SME’s access to formal loans. 

 

 

No Lida Appointed as CEO of Credit Guarantee Corporation of Cambodia

Posted on by Sorn Chhorvyvatey

Cambodia Investment Review

The Credit Guarantee Corporation of Cambodia (CGCC) has appointed Mr. No Lida as its new CEO during a formal ceremony held at Oakwood Premier Phnom Penh. The event was presided over by H.E. Ros Seilava, Secretary of State of the Ministry of Economy and Finance (MEF) and Chairman of CGCC, and attended by more than 100 participants, including members of CGCC’s Board of Directors, local and international partners, financial institutions, and business associations. The event marked the official transition of leadership from Mr. Wong Keet Loong, who has led CGCC since its inception.

Mr. Wong, who has been instrumental in building CGCC’s foundation, expressed his gratitude during the ceremony, stating, “I’m honored to have had the opportunity to lead CGCC from its inception to where it is today. CGCC has achieved many milestones, from being the first credit guarantee and bond guarantee institution in Cambodia. It will continue to play a critical role in developing the growth of MSMEs by improving financial access and financial literacy.” Under his leadership, CGCC launched several key initiatives aimed at improving access to credit for small and medium enterprises (SMEs), a cornerstone of Cambodia’s economic development.

New Leadership and Vision

Mr. No Lida, who served as CGCC’s Deputy CEO for the past four years, officially took over as CEO following his appointment, confirmed by Sub-Decree No. 872 ANKR.TT. This decision was approved by Prime Minister Samdech Moha Borvor Thipadei Hun Manet, based on the recommendation of H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of the MEF. Mr. No has been a key figure in the development of CGCC and brings more than a decade of experience from his time at the Ministry of Economy and Finance, where he gained significant experience in financial policy and management.

In his acceptance speech, Mr. No stated, “I am deeply honored to have earned the trust of the Board of Directors of CGCC, the Deputy Prime Minister, Minister of Economy and Finance, and most importantly, Samdech Moha Borvor Thipadei Hun Manet, Prime Minister of Cambodia, who appointed me as the CEO of CGCC. I am fully committed to doing my best for CGCC. I will utilize all my abilities to bring CGCC forward as a merit and principle-based institution and always uphold CGCC’s core values of TRUSTS – Trustworthy, Responsible, United, Sustainable, Transparency, and State Policy-Oriented.”

Launch of Sustainable Green Financing Facility

Alongside the leadership transition, CGCC also officially launched the Sustainable Green Financing Facility (SGFF) during the ceremony. This blended financing model, developed in collaboration with the United Nations Development Program (UNDP), aims to support green sector investments in Cambodia. The SGFF will enable development partners and financial institutions to establish a blended financing fund with CGCC, providing capital for green initiatives at favorable terms. The facility is designed to support sustainable development goals by offering financing options to businesses working in the green economy.

Read more: SERC and CGCC Sign MoU to Promote Guaranteed Bonds in Cambodia

As of the end of August 2024, CGCC had provided guarantees for 2,678 loan accounts, amounting to approximately USD 225 million. The organization, which was established in November 2020, continues to play a crucial role in supporting Cambodia’s SMEs, particularly in improving access to financing and promoting financial literacy.

Mr. No Lida’s appointment as CEO is expected to further strengthen CGCC’s position in the financial sector and drive its mission to support the growth of SMEs and green investment opportunities across Cambodia.

 

Credit to: Cambodia Investment Review, Published on 04 October 2024