Gov’t Provides US$89 million in Loans to SMEs as of 2022

• 4 January 2023
• Local News
• 930 Views

As of 31 December 2022, the Credit Guarantee Corporation of Cambodia (CGCC) has provided approximately US$89 million in loans, mostly non-collateralised loans, to businesses, especially small and medium enterprises. 

According to a press release from CGCC on 3 January, the loan is provided under the BRGS scheme to provide credit to support businesses, both SMEs and large enterprises, to increase access to financing for investment and business expansion. 

The BRGS project was launched for the first time from March to December 2022 with an initial budget of US$200 million. 

So far, US$ 89 million in loans have been disbursed. 

In order to revitalise the SME sector, the ​Cambodian government also plans to inject a budget of US$100 million into the SME Bank by 2023, while already providing about US$423 million in loans. (Read more)

• Business and Market