PRESS RELEASE CGCC Launches Co-Financing Guarantee Scheme for Tourism to support the Recovery and Growth of Tourism Sector

PRESS RELEASE CGCC Launches Co-Financing Guarantee Scheme for Tourism to support the Recovery and Growth of Tourism Sector

To support the Government’s policy on recovery and growth of the Tourism Sector, Credit Guarantee Corporation of Cambodia (CGCC) is pleased to launch “Co-Financing Guarantee Scheme for Tourism (CFGS-TR)” after the highest approval from H.E. Akka Pundit Sapheacha Deputy Prime Minister, Minister of Economy and Finance.

CFGS-TR is specifically designed to provide credit guarantees on co-financing loans disbursed by CGCC’s Participating Financial Institutions (PFIs) under the Tourism Recovery Co-Financing Scheme (TRCS) of the SME Bank of Cambodia.

CFGS-TR of CGCC and TRCS of SME Bank are the joint efforts of the two state-owned enterprises to improve access to finance for SMEs in the Tourism Sector. While TRCS aims to lower SMEs’ cost of borrowing, CFGS-TR is a guarantee scheme that will act as collateral/security for 80% of the loan amount; thus, reducing the physical collateral required from the borrowers. CFGS-TR will support new loan disbursements in the banking sector to SMEs. Meanwhile, PFIs will be able to offer higher loan amounts, and the risk exposure will be shared with CGCC up to 80%.

For more information, please contact CGCC via 023 722 123, or visit CGCC’s official website www.cgcc.com.kh​.

 

Phnom Penh, 12 July 2022

Credit Guarantee Corporation of Cambodia

PRESS RELEASE CGCC Launches Co-Financing Guarantee Scheme for Tourism to support the Recovery and Growth of Tourism Sector