CGCC to Lend Over US$100m to More Than 10K businesses by February 2023

• 15 March 2023
• Local News
• 783 Views

The Credit Guarantee Corporation of Cambodia (CGCC) announced on 10 March 2023 that it had provided credit guarantees to 1,155 companies with a loan amount of around US$104.9m by the end of February 2023.

This marks an increase of US$15.9m from the previous year’s loan amount of US$89m. Of the 1,155 businesses, 81 were large companies, while 1,074 were small and medium-sized enterprises. Among them, 410 had collateral, and 745 did not. (Read more)

As of 31 January 2023, the guaranteed loan portfolio amounted to US$81.6m, while the guaranteed loan portfolio reached US$58.9m. This indicates that the CGCC has successfully assisted small and medium-sized enterprises needing financial support. With its commitment to helping businesses thrive and expand, the CGCC is set to lend over US$100m to more than 10,000 businesses by February 2023.

The CGCC’s initiative is expected to further boost the country’s economic growth, as businesses can secure funding and expand their operations. The government’s efforts to promote entrepreneurship and investment will also help create more job opportunities and contribute to Cambodia’s economic development.

• Economy and Finance