US$150M Co-Financing for Tourism Recovery

• 18 May 2022
• Local News
• 1114 Views

The Ministry of Economy and Finance has announced the implementation of the Tourism Recovery Co-Financing Scheme (TRCS) with a total budget of US$150 million to promote tourism as the COVID-19 crisis eases, according to a press release on 17 May 2022.

The budget comes from the Royal Government’s contribution of US$75 million through SME Bank and participating financial institutions (PFIs) of US$75 million. The Royal Government will use the total budget only for the tourism industry to promote the resumption of business operations, improvement, and expansion of tourism services to prepare for national and international tourists as the COVID-19 crisis eases.

Through TRCS, enterprises in the tourism field can apply for loans from PFIs that are partners of SME Bank at a concessional interest rate.

The Cambodian government has also decided to extend tax exemption to the tourism, hospitality, and other COVID-19 affected businesses from March to June 2022, to improve and be ready to welcome national and international tourists after Cambodia is fully reopened to foreign vaccinated tourists. (Read more)

• Tourism and Travelling