SME Bank Provides Over US$41m in Loans to 291 Tourism Businesses

• 6 January 2023
• Local News
• 1234 Views

As of December 2022, the Small and Medium Enterprise Bank of Cambodia (SME Bank) has provided US$41.52 million in loan to 291 tourism businesses, according to the bank’s announcement on 3 January 2023. 

The loan is part of the Tourism Restoration and Growth Sector (TRCS) co-financing project with a total budget of about US$150 million. 

Of these, 26% were in the hotel business, 28% in the guesthouse business, 32% in the restaurant business and 14% in the tourism support business. 43% of the loan was given to women entrepreneurs. 

At the same time, the Credit Guarantee Corporation of Cambodia (CGCC) has provided about US$89 million in loans, most of which are unsecured loans to SMEs. (Read more)

The Cambodian government has also allocated over US$500 million to provide low-interest loans so that they have enough capital to support and expand their business. (Read more)

• Economy and Finance
• Tourism and Travelling