Gov’t to Inject More US$100m Fund to SME Banks

• 7 December 2022
• Local News
• 1395 Views

The government plans to allocate another US$100 million fund to the SME Bank by 2023, on top of US$423 million injected in the past years, according to a press conference on 5 December 2022. 

Dr Phan Phalla, Chairman of the Board of Directors of the Small and Medium Enterprise Bank, stated that the Royal Government of Cambodia will inject an additional budget of US$100 million to provide loans to small and medium enterprises at low-interest rates so that they have sufficient capital for business recovering. 

Small and medium enterprises in Cambodia still need a lot of financing to stabilize and expand their business, he added. 

As of the end of October 2022, SME Bank, established by the Royal Government, has disbursed about US$423m to 3,165 small and medium enterprises to help restore business, maintain stability and expand the business after some enterprises. 

• Economy and Finance
• Investment and Funding