Signing Ceremony on the Memorandum of Understanding (MoU) Between Credit Guarantee Corporation of Cambodia (CGCC) and Cambodia Chamber of Commerce (CCC)
April 27, 2023Events and Activities
Phnom Penh, 26 April 2023 – Credit Guarantee Corporation of Cambodia (CGCC) and Cambodia Chamber of Commerce (CCC) officially announced a strategic partnership through the Signing Ceremony on the Memorandum of Understanding (MoU) to promote access to guaranteed loans for the development of Micro, Small and Medium Enterprises (MSMEs) in Cambodia. This cooperation will provide support to MSMEs, mainly CCC members, for greater access to finance despite collateral challenges and to promote financial literacy, including credit guarantees to CCC members across the country.
Mr. Wong Keet Loong, Chief Executive Officer of CGCC said “This MoU signing with the Cambodia Chamber of Commerce (CCC) is an important milestone for CGCC as it enables CGCC to reach out to the members of CCC across the country. CCC, being an established business chamber with many SME members, will be a key partner to CGCC in promoting the understanding of the benefits of the credit guarantee. Together with CCC, we can support the development of SMEs in Cambodia by improving financial inclusion and financial literacy.”
H.E. Oknha Nguon Meng Tech, Director General of CCC mentioned that “The MSMEs play significant roles in economic development. However, they face a lot of challenges, particularly financial constraints. In this regard, the MOU signing CCC and CGCC today aimed specifically to promote access to guaranteed loans for the development of MSMEs. The MOU signing is also a positive sign that will help strengthen and deepen the cooperation between the two institutions.”
This partnership between CGCC and CCC demonstrates a shared commitment to promoting economic growth and development in Cambodia. By working together, the two organizations will help SMEs overcome financing challenges and unlock their potential to drive economic growth in the country.
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