SME Bank Lends US$500m to 3,400 Enterprises in 2023

• 12 July 2024
• Local News
• 1173 Views

In 2023, the Small and Medium Enterprise Bank of Cambodia (SME Bank) disbursed loans totalling US$500 million to 3,400 small and medium enterprises, according to a report by the Ministry of Information on 4 July 2024.

The SME Bank’s report highlighted that the lending was facilitated through two mechanisms: direct financing projects and co-financing projects in collaboration with participating financial institutions. The direct financing initiatives provided loans amounting to approximately US$86 million, reaching 365 target businesses and representing a 60% increase compared to 2022. In contrast, the co-financing projects supported a total of 3,095 enterprises with loans totalling approximately US$394 million.

The provision of credit to these enterprises aims to bolster business growth and contribute significantly to Cambodia’s socio-economic development. Notably, in 2022, the SME Bank extended loans to 230 small and medium enterprises with a total budget of about US$53 million, demonstrating a substantial increase in support over the past year. (Read more)

• Economy and Finance
• Investment and Funding