CGCC Empowers Cambodian SMEs with US$164m in Loans Over Three Years

CGCC Empowers Cambodian SMEs with US$164m in Loans Over Three Years

The Credit Guarantee Corporation of Cambodia (CGCC) has played a pivotal role in fostering the growth of small and medium enterprises (SMEs) by approving a total credit guarantee of approximately US$164.72 million as of 31 December 2023. This update was revealed during its annual meeting held on 31 January 2024.

This three-year initiative has provided essential financial support to nearly 2,000 businesses across Cambodia, offering a significant boost to their operational capabilities and expansion endeavors. The positive impact extends to job creation, with over 52,000 workers benefiting from the approved loans.

In the meeting, CGCC unveiled plans to further enhance its support for the SME sector. The corporation announced the initiation of three individual loan guarantee projects, six comprehensive package loan guarantee projects, bond issuance credit initiatives, and capacity-building programs tailored for SMEs. Notably, CGCC celebrated its inauguration as the inaugural bond issuer in Cambodia, underscoring its commitment to fortifying the financial landscape and fostering SME development.

The strategic diversification of CGCC’s credit guarantee portfolio, extending from individual and package loan projects to bond issuance, aligns with its overarching mission to elevate the credit standing of local bond issuers. This move aims to facilitate capital raising through bond issuance on the Cambodia Securities Exchange, contributing to the overall economic vitality of the nation.

- Video Advertisement -

Related Post

Companies Raise USD 475 Million in Capital Markets, Promising Growth Ahead

Companies Raise USD 475 Million in Capital Markets, Promising Growth Ahead

  • 25 February 2025

As of February this year, listed companies in Cambodia have successfully raised a total of USD 475 million from the capital market, according to H.E. Hong Sok Hour, CEO of the Cambodia Securities Exchange (CSX). During his address at the ACLEDA Bank subordinated bond listing ceremony on February 24, H.E. Hong announced that CSX currently […]

USAID’s Withdrawal Paves the Way for China’s Expanding Influence in Cambodia and ASEAN

USAID’s Withdrawal Paves the Way for China’s Expanding Influence in Cambodia and ASEAN

  • 24 February 2025

The abrupt freezing of USAID funding under the Trump administration has halted vital infrastructure and development projects across Southeast Asia, leaving a geopolitical vacuum that China is poised to fill. With USAID’s cessation, critical services in Cambodia—including healthcare, education, and demining efforts—face significant disruption. The United States, which allocated nearly USD 68 billion in foreign […]

Cambodia Government Facilitates Import Exemptions for Construction Projects

Cambodia Government Facilitates Import Exemptions for Construction Projects

  • 22 February 2025

In a significant move to boost investment in the construction sector, the Cambodian government has announced a new procedure to exempt imports of construction materials from customs duties, special taxes, and state-paid value-added tax. This initiative targets investment projects registered with the Capital-Provincial Investment Subcommittee and is detailed in Inter-Ministerial Prakas No. 070 S.H.O.P.R.K, issued […]

Philippines Investors Eye Cambodian Rice Imports

Philippines Investors Eye Cambodian Rice Imports

  • 22 February 2025

In a significant step towards bolstering agricultural trade, Arvin International Marketing Inc., a leading Philippines company, has expressed a keen interest in importing high-quality rice from Cambodia. This announcement follows a meeting between Her Excellency Chamnimol, Cambodia’s Minister of Commerce, and Mrs Azucena L. Yao, Chairman of the Board of Directors of Arvin International, held […]

Cambodia’s Stone Processing Industry Flourishes with USD 90 Million Revenue in 2024

Cambodia’s Stone Processing Industry Flourishes with USD 90 Million Revenue in 2024

  • 20 February 2025

In a noteworthy development for Cambodia’s economy, the stone processing sector has emerged as a significant contributor, generating an impressive USD 90 million in revenue in 2024. This remarkable achievement highlights the industry’s growth potential and its critical role in the national budget. As the Ministry of Information reported on February 16, 2025, Cambodia currently […]

Cambodia’s Small and Medium Enterprises Flourish in 2024

Cambodia’s Small and Medium Enterprises Flourish in 2024

  • 17 February 2025

In a promising development for Cambodia’s economy, the Ministry of Industry, Science, Technology, and Innovation has reported significant growth in the country’s small and medium enterprises (SMEs) within the industrial sector. As of 2024, nearly 1,300 SMEs have registered, indicating a robust entrepreneurial spirit within the nation. According to the recent report on the ministry’s […]