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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, 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 participated in the panel discussion on Finance for Small and Medium Enterprises (SMEs)

Posted on by Sorn Chhorvyvatey

On 04 January 2025, at the Khmer Enterprise’s office, Mr. Yun Phan, Director of Strategy and Business Development of CGCC, participated as a panelist in the panel discussion on “Finance for Small and Medium Enterprises (SMEs)”, organized as a final session of the “Enterprise Financial Day” Program season 2 of Khmer Enterprises (KE).

Through this panel discussion, Mr. Yun Phan shared the participants with the credit guarantee mechanisms and the benefits for SMEs. He emphasized how CGCC’s services and products, including Loan Guarantees, Bond Guarantees, and Capacity Building Programs, can enhance SMEs’ access to financing from financial institutions for developing their SMEs.

The participants not only learned from the distinguished speakers about the outlook and trends of financing for SMEs in Cambodia, including challenges and solutions, but also had the opportunity to address questions about challenges they have been facing and seeking recommendations from speakers to improve business operations and expand financial knowledge for obtaining financing from banks/MFIs under the favorable terms.

 

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. 

 

 

Entrepreneurship Program Initiative of CGCC (EPIC) 3rd Series of 2024

Posted on by Sorn Chhorvyvatey

On 06 December 2024, at the Business Development Center, Credit Guarantee Corporation of Cambodia (CGCC), and J Trust Royal Bank, co-organized the EPIC 3rd Series of 2024 on “Effective Business Operation in the Digital Age for MSMEs”, participated by around 50 trainees from the Micro, Small, and Medium Enterprises (MSMEs), in which approximately 65% are women entrepreneurs, and around 10 students from the AMT scholarship-Alumni Association.

The EPIC 3rd Series of 2024 was attended with high honor for the certificate presentation ceremony to all participants, trainers and distinguished speakers by His Excellency Dr. Mey Vann, Secretary of State, Ministry of Economy and Finance and the chair of the Group 6 of the A.M.T Scholarship Students-Alumni Association, and under the honor presence of Lok Chumteav You Bory, Vice President of the Cambodian Women’s Association, Mr. No Lida, CEO of CGCC, Ms. Hang Chuon Narita, Chief of Corporate Banking of J Trust Royal Bank, Mr. Pea Vanchhay, Head of SME of Corporate Banking of J Trust Royal Bank, and the management teams of both CGCC and J Trust Royal Bank.

Through this EPIC 3rd Series of 2024, all participants learned about “Business Operations in the Digital Age for MSMEs” shared by Ms. Sem Sreytouch, Founder of EPL Pollinate Enterprise and President of Cambodia Honey Association. Ms. Sreytouch shared comprehensive digital tools to streamline business operations, how to use digital tools to increase sales, business operation management, customer relations and promotion of products or services, cyber security, and shared strategies for adapting to future market trends and digitalization to stay sustainable and competitive in the digital era. All participants also shared their own practical experiences with each other through active group discussions on topics surrounding the importance of using digital tools and systems, challenges in transitioning to digital, and suggestions or requests for enhancing the performance of MSMEs.

In addition, participants also learned about “Credit Guarantee Mechanisms to Support Access to Finance for SMEs” through a presentation by Ms. Lim Chanthida, Director of Centralized Operations of CGCC. In line with the credit guarantee mechanism, Mr. Poch Pisal, Relationship Manager of SME of Corporate Banking of J Trust Royal Bank, also shared  “Credit Assessment Process and Financial Solutions for Businesses, and in particular, Support for Women Entrepreneurs.” with participants.

Capacity-building is one of the priorities of CGCC in the mission of improving financial inclusion and developing SMEs in Cambodia. EPIC is the flagship entrepreneurs’ capacity-building program of CGCC that will provide training to MSMEs on relevant and practical topics of business operations and management for entrepreneurs in collaboration with related stakeholders/Participating Financial Institutions/participants.

 

Maybank’s New Financing Scheme to Boost SMEs

Posted on by Sorn Chhorvyvatey

Maybank Cambodia, in partnership with the USAID-funded Feed the Future Cambodia Harvest III project and the Credit Guarantee Corporation of Cambodia (CGCC), on Saturday launched the ‘SME Export Finance Solution’ to support the growth of Small and Medium Enterprises (SMEs) in the country.

This initiative also includes the Building Capacity and Capability (BCC) programme for SMEs.

The partnership between the three parties aims to elevate the competitiveness of local SMEs on the global stage, fostering sustainable growth and strengthening Cambodia’s presence in international markets.

By offering tailored financial products—such as working capital loans, trade finance, competitive foreign exchange in 21 currencies, remittance solutions, and export credit facilities—the initiative equips SMEs with resources to overcome financial barriers.

The launch of the ‘SME Export Finance Solution’ was marked by the signing of an agreement between Rath Sophoan, Chief Executive Officer and Country Head of Maybank Cambodia and Nimish Jhaveri, Chief of Party of Feed the Future Cambodia Harvest III.

In his welcoming remarks, Sophoan said that the SME Export Finance Solution will be a game-changer for Cambodian businesses aiming to expand exports to existing or new international markets.

“By empowering SMEs to overcome traditional barriers to finance, this partnership advances individual business growth while contributing to the broader economic development of Cambodia,” he stated.

“As SMEs are the backbone of the Cambodian economy, by equipping them to succeed in export markets, this collaboration will fuel job creation, foster sustainable economic growth, and strengthen Cambodia’s position as a competitive player in the ASEAN region and beyond,” Sophoan noted.

“This initiative also reinforces Maybank’s commitment to its role as the Best ASEAN Bank in Cambodia, leading the way in regional economic empowerment,” he added.

Nimish Jhaveri, Chief of the Party of Feed, the Future Cambodia Harvest III, said the new trade financing solution would provide SMEs with the necessary capital to manage production costs, invest in quality improvements, and fulfil international orders.

“An effective trade financing solution is crucial for these enterprises, as it not only helps bridge cash flow gaps but also enables them to compete more effectively by facilitating timely deliveries and expanding their market reach,” he noted.

“Together, we ensure that these enterprises are equipped not only with financial resources but also with the knowledge and expertise required to succeed globally,” Jhaveri added.

In conjunction with the SME Export Finance Solution, Maybank Cambodia, CGCC, and Harvest III also announced the ‘SME Building Capacity & Capability (BCC) Programme 2024 & 2025’, a flagship initiative designed to further equip SMEs with essential business skills and knowledge.

Since its inception in 2021, the BCC Programme has trained hundreds of SMEs on business fundamentals, advanced techniques, and modern technologies.

Building on this success, in 2024 and 2025, the programme aims to deliver specialised sessions on trade finance solutions, financial management, and strategic planning, led by industry experts from the accounting and business, consulting, and finance sectors. This training empowers SMEs with practical insights and skills needed to enhance their operations and optimise their growth potential.

No Lida, CGCC’s Chief Executive Officer, expressed his strong support for this initiative, stating that the BCC programme equips SMEs with essential skills and knowledge, empowering them to access finance and expand their businesses.

“Through this initiative, we can help improve financial literacy and lay the groundwork for SMEs to thrive locally and internationally. This programme is a crucial step toward our shared vision of fostering a resilient and dynamic SME sector that significantly contributes to Cambodia’s economic growth,” Lida said.

With this initiative, Maybank Cambodia, Harvest III, and CGCC are building a robust support ecosystem for Cambodian SMEs, positioning them to thrive in domestic and global markets.

This initiative provides SMEs with the resources, knowledge, and confidence to scale their businesses and pursue international opportunities through the combined power of financial solutions, capacity-building programmes, and reduced collateral requirements through credit guarantees.

 

Credit to: Khmer Times, published on 25 November 2024

Empowering Local SMEs to Compete Globally: New Export Finance Solution and Capacity-Building Programme Launched

Posted on by Sorn Chhorvyvatey

Phnom Penh, 23 November 2024 – Maybank Cambodia, in partnership with the USAID-funded Feed the Future Cambodia Harvest III project, is proud to announce the launch of the SME Export Finance Solution, providing tailored SME and trade financing options to empower Cambodian SME exporters to the global market. This programme also includes the Credit Guarantee Scheme and the Building Capacity & Capability (BCC) programme for SMEs, developed in collaboration between Maybank Cambodia and the Credit Guarantee Corporation of Cambodia (CGCC).

This partnership aims to elevate the competitiveness of local SMEs on the global stage, fostering sustainable growth and strengthening Cambodia’s presence in international markets. By offering tailored financial products—such as working capital loans, trade finance, competitive FX in 21 currencies, remittance solutions, and export credit facilities—the initiative equips SMEs with essential resources to overcome financial barriers and pursue international growth. This marks a transformative milestone for Cambodian SMEs, providing a pathway to expand operations, increase revenue, and secure their place in the global marketplace.

Mr. Rath Sophoan, Chief Executive Officer and Country Head of Maybank Cambodia, commented on the partnership, stating, “The SME Export Finance Solution is a game-changer for Cambodian businesses aiming for expanding exports to existing and or new international markets. By empowering SMEs to overcome traditional barriers to finance, this partnership advances individual business growth while contributing to the broader economic development of Cambodia.”

“SMEs are the backbone of the Cambodian economy, and by equipping them to succeed in export markets, this collaboration will fuel job creation, foster sustainable economic growth, and strengthen Cambodia’s position as a competitive player in the ASEAN region and beyond. This initiative also reinforces Maybank’s commitment to its role as the Best ASEAN bank in Cambodia, leading the way in regional economic empowerment,” he added.

Aligned with the objectives of Feed the Future Cambodia Harvest III —a five-year USAID-funded Activity focused on fostering inclusive and sustainable growth in Cambodia’s agriculture and SME sectors—this collaboration supports diversification, resilience, and competitiveness among Cambodian SMEs. By engaging private-sector partners and key stakeholders, the project aims to strengthen SMEs’ capacity to contribute meaningfully to Cambodia’s economic development and ultimately improve livelihoods for Cambodians.

Mr. Nimish Jhaveri, Chief of Party of Feed the Future Cambodia Harvest III, remarked, “With this new trade financing solution, we can provide SMEs with the necessary capital to manage production costs, invest in quality improvements, and fulfill international orders. An effective trade financing solution is crucial for these enterprises, as it not only helps bridge cash flow gaps but also enables them to compete more effectively by facilitating timely deliveries and expanding their market reach. Together, we ensure that these enterprises are equipped not only with financial resources but also with the knowledge and expertise required to succeed globally. This partnership plays a pivotal role in enhancing Cambodia’s export potential and advancing the country’s sustainable economic growth.”

In conjunction with the SME Export Finance Solution, Maybank Cambodia, CGCC, and Harvest III also announce ‘SME Building Capacity & Capability (BCC) Programme 2024 & 2025’, a flagship initiative designed to further equip SMEs with essential business skills and knowledge. Since its inception in 2021, the BCC Programme has provided hundreds of SMEs with training on business fundamentals, advanced techniques, and modern technologies. Building on this success, in 2024 the programme will deliver specialized sessions on trade finance solutions, financial management, and strategic planning, led by industry experts from accounting & business, consulting, and finance sectors. This training empowers SMEs with practical insights and skills needed to enhance their operations and optimize their growth potential.

Mr. No Lida, Chief Executive Officer of CGCC, expressed his strong support, stating, “The BCC Programme equips our SMEs with essential skills and knowledge, empowering them to access finance and expand their businesses. Through this initiative, we can help improve financial literacy and lay the groundwork for SMEs to thrive both locally and internationally. This programme is a crucial step toward our shared vision of fostering a resilient and dynamic SME sector that significantly contributes to Cambodia’s economic growth. Furthermore, the initiative is strengthened by CGCC’s Credit Guarantee Scheme, which addresses one of the biggest challenges faced by SMEs: insufficient collateral. By easing collateral requirements, we expand financing options, allowing SMEs to access the capital they need for sustainable growth.”

Together, Maybank Cambodia, Harvest III, and CGCC are building a robust ecosystem of support for Cambodian SMEs, positioning them to thrive in both domestic and global markets. Through the combined power of financial solutions, capacity-building programmes, and reduced collateral requirements through credit guarantee, this initiative provides SMEs with the resources, knowledge, and confidence to scale their businesses and pursue international opportunities.

This strategic alliance demonstrates a shared commitment to building a resilient, inclusive, and globally connected SME in Cambodia. Maybank Cambodia, CGCC, and Harvest III are paving the way for a future where Cambodian businesses are equipped to contribute significantly to the national economy while enhancing the country’s presence on the global stage.

CGCC Participated in the 36th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Nepal

Posted on by Sorn Chhorvyvatey

From 20 to 25 September 2024, CGCC delegation led by H.E Dr. Mey Vann, Secretary of State of the Ministry of Economy and Finance and Chairman of the CGCC Risk Management Committee attended the 36th Asian Credit Supplementation Institution Confederation (ACSIC) in Kathmandu, Nepal, organized by the Deposit and Credit Guarantee Fund of Nepal under the theme “Financing Innovations for Economic Growth”.

Through this conference, HE Dr. Mey Van was invited to deliver a speech of interest after the official announcement of CGCC being the ACSIC member from 2024 onwards, thanking all ACSIC members for their support and welcoming CGCC as an official member and expressing the commitment for Cambodia to hosting the ACSIC Training Program for 2026.

Moreover, Mr. No Lida, CEO of CGCC, was also invited as a keynote speaker to share about CGCC’s credit guarantee and bond guarantee, especially to support small and medium enterprises through priority work on green financing projects. In addition, Mr. No Lida shared about the CGCC Capacity Building Program, which aims to support businesses, the involvement of credit guarantee mechanisms to increase employment opportunities, address climate change and gender equality, and consider financing solutions, sustainability and innovation through learning from good experiences from the member countries.

Through this conference, delegations from ACSIC member countries / observers presented on the progress of their respective credit guarantee schemes, as well as discussions on key topics such as financial innovation mechanisms, institutional risk management, credit guarantee, the use of digital systems (AI) and sustainable development.

The 36th ACSIC Conference was attended by more than 100 representatives of ACSIC members and relevant institutions such as the World Bank, the Central Bank of Nepal. It should also be noted that ACSIC is the largest association of credit guarantee institutions or similar institutions in Asia, established in 1987 to promote the development of credit guarantee systems for small and medium enterprises through information sharing, consulting and capacity building between the member institutions.

 

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