Briefing session on “Co-Financing Guarantee Scheme (CFGS)” of CGCC to PFIs
September 28, 2021Events and Activities
On Tuesday, 28 September 2021, CGCC organized an online briefing session to Participated Financial Institutions (PFIs) on the newly launched guarantee scheme “Co-Financing Guarantee Scheme (CFGS)” with 70 participations from banks, and micro-finance institutions.
This briefing session was organized to present and disseminate to CGCC’s PFIs regarding the relevant information of CFGS, the new CGCC’s guarantee scheme that was officially launched on September 22, 2021.
CFGS is the second credit guarantee scheme of CGCC amounting to $50 million, while the first credit guarantee, the Business Recovery Guarantee Scheme (BRGS) launched in March 2021, with the total guarantee amount of $200 million to support the economic recovery during the COVID-19 pandemic
CGCC strongly hope that after this briefing session of this 2nd guarantee scheme, CFGS, our PFIs can actively disseminate this new scheme to expand access to formal loans among businesses in Cambodia, which is in line with the government’s policy in supporting the Small and Medium Enterprise (SME) in access to finance for working capital or expansion. CGCC’s guarantee scheme will act as collateral from 70 to 80% of the loan amount, thus reducing the physical collateral required from the borrowers.
Understand more about Co-Financing Guarantee Scheme (CFGS): https://www.cgcc.com.kh/en/co-financing-guarantee-scheme/