"Thai Deputy Defense Minister Condemns Cambodia Over Landmine Incident Injuring Thai Soldiers; Keo Remy, however, warned, 'Please do not walk like a crab.'" | BREAKING: Tensions Escalate: Thai Troops Prepare to Launch Unauthorized Attack on Cambodian Territory Amid Internal Political Strife | Cambodia Rebuts Thailand’s Baseless Landmine Allegations and Urges Diplomacy to Maintain Regional Peace | Cambodia Accuses Thailand of Using Landmine Incidents as a Political Tool and Violating Ceasefire Agreements | Breaking: Kandal Provincial Police Arrest Notorious Lotion Manufacturer Love Riya | Cambodia Clarifies Misleading Claims About Ottawa Convention Meeting in Bangkok | Cambodia, China, and Thailand Discuss Regional Cooperation and Border Disputes at Mekong-Lancang Meeting | Smile Asia Philanthropic Visionary Award” Presented to Dr. Pich Chanmony Hun Manet | Cambodia & Thailand Call for Restraint and Adherence to International Agreements | International Observer Team Conducts Monitoring Visit Following Cambodia–Thailand Ceasefire Agreement | Cambodia, Vietnam Strengthen Ties in High‑Level Video Conference; Aim for $20B Trade |
"Thai Deputy Defense Minister Condemns Cambodia Over Landmine Incident Injuring Thai Soldiers; Keo Remy, however, warned, 'Please do not walk like a crab.'" | BREAKING: Tensions Escalate: Thai Troops Prepare to Launch Unauthorized Attack on Cambodian Territory Amid Internal Political Strife | Cambodia Rebuts Thailand’s Baseless Landmine Allegations and Urges Diplomacy to Maintain Regional Peace | Cambodia Accuses Thailand of Using Landmine Incidents as a Political Tool and Violating Ceasefire Agreements | Breaking: Kandal Provincial Police Arrest Notorious Lotion Manufacturer Love Riya | Cambodia Clarifies Misleading Claims About Ottawa Convention Meeting in Bangkok | Cambodia, China, and Thailand Discuss Regional Cooperation and Border Disputes at Mekong-Lancang Meeting | Smile Asia Philanthropic Visionary Award” Presented to Dr. Pich Chanmony Hun Manet | Cambodia & Thailand Call for Restraint and Adherence to International Agreements | International Observer Team Conducts Monitoring Visit Following Cambodia–Thailand Ceasefire Agreement | Cambodia, Vietnam Strengthen Ties in High‑Level Video Conference; Aim for $20B Trade |

Cambodia's CGCC Provides $170 Million in Credit Guarantees to Businesses

  • Posted Feb 21, 2024 11:01 by Anthony Ellis
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PHNOM PENH: The Credit Guarantee Corporation of Cambodia (CGCC) has extended crucial support to almost 2,000 businesses by issuing $170 million in credit guarantees as of January 2024. This initiative aims to provide working capital and facilitate expansion efforts.

According to a CGCC factsheet released on February 20th, the outstanding guaranteed loan amount currently stands at $119 million, while the outstanding guaranteed amount is $85.8 million. Notably, among the beneficiaries, 1,854 are micro, small, and medium enterprises (MSMEs), while 154 are larger businesses. Additionally, 833 of the supported businesses are women-owned.

The CGCC scheme partners with 27 financial institutions to offer loans for working capital investment and business expansion to SMEs. Established in November 2020 with a $200 million state budget, the CGCC plays a pivotal role in promoting financial inclusion and fostering SME growth in Cambodia.

Mey Vann, Secretary of State at the Ministry of Economy and Finance, commended the smooth loan distribution, emphasizing its positive impact on entrepreneurship and financial inclusion. He further highlighted the CGCC's significant contribution in supporting SMEs during challenging times like the COVID-19 pandemic and the current inflationary pressures, ensuring access to much-needed credit for business operations.


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