CGCC participates in the discussion on “SMEs and FinTech Joining Hands to Promote Economic Recovery”
May 4, 2022Events and Activities
On 03 May 2022, Mr. No Lida, Deputy Chief Executive Officer of Credit Guarantee Corporation of Cambodia (CGCC), participated as a speaker in the panel discussion on “SMEs and FinTech Joining Hands to Promote Economic Recovery”, organized during the MoU signing ceremony between Cambodia Asia Bank (CAB) and SME Bank of Cambodia on SMEs Co-Financing Scheme Phase II.
The panelists in the discussion included the Chief Operation Officer of CAB, Head of Credit of SME Bank of Cambodia, and Chief Executive Officer of Bankograph.
Mr. No Lida shared the importance of narrowing the financing gap between demand and supply for the economic development and CGCC’s mission of providing credit guarantees to banks/MFIs on loans made to businesses to share the risk with lenders and to improve financial inclusion. In addition, he also provided some recommendations to businesses in order to gain access to guaranteed loans.
In September 2021, CGCC launched the Co-financing Guarantee Scheme (CFGS), which is specifically designed for the loans disbursed under the SMEs Co-Financing Scheme Phase II of the SME Bank of Cambodia. CFGS helps the PFIs to disburse more unsecured loans to SMEs.