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CGCC and Cambodia Chamber of Commerce (CCC) co-organized a workshop on “Capacity Building and Improving Financial Literacy of SMEs” in Sihanoukville province

Posted on by Sorn Chhorvyvatey

On 11 December 2024, Credit Guarantee Corporation of Cambodia (CGCC) and Cambodia Chamber of Commerce (CCC) co-organized a workshop on “Capacity Building and Improving Financial Literacy of SMEs” in Sihanoukville province in collaboration with Sihanoukville Chamber of Commerce with around 50 participants from Management and staff of Participating Financial Institutions (PFIs) and business owners in Sihanoukville province.

The workshop was presided over by Louk Oknha Tan Tat, President of Cambodia Chamber of Commerce, chapter based in Sihanoukville province, Mr. No Lida, Deputy CEO of CGCC, Mr. Yu Phan, Director of Strategy and Business Development, and the presentations by Mr. Se Kimveasna, Senior Executive of Marketing and Communication, and representatives from ABA Bank and LOLC MFI as well.

Through this workshop, business owners gained more understanding of the benefits of credit guarantee and especially understand the readiness to obtain loans from banks and microfinance institutions, as well as understanding how to use loans responsibly and correctly and have the opportunity to practice and get feedback Improved feedback from trainers / experts on loan readiness.

CGCC participated in the panel discussion on Finance for Small and Medium Enterprises (SMEs)

Posted on by Sorn Chhorvyvatey

On 04 January 2025, at the Khmer Enterprise’s office, Mr. Yun Phan, Director of Strategy and Business Development of CGCC, participated as a panelist in the panel discussion on “Finance for Small and Medium Enterprises (SMEs)”, organized as a final session of the “Enterprise Financial Day” Program season 2 of Khmer Enterprises (KE).

Through this panel discussion, Mr. Yun Phan shared the participants with the credit guarantee mechanisms and the benefits for SMEs. He emphasized how CGCC’s services and products, including Loan Guarantees, Bond Guarantees, and Capacity Building Programs, can enhance SMEs’ access to financing from financial institutions for developing their SMEs.

The participants not only learned from the distinguished speakers about the outlook and trends of financing for SMEs in Cambodia, including challenges and solutions, but also had the opportunity to address questions about challenges they have been facing and seeking recommendations from speakers to improve business operations and expand financial knowledge for obtaining financing from banks/MFIs under the favorable terms.

 

CGCC sharing on Green and Inclusive Finance in Capacity Building Training on “Better Implementation of Gender Responsive Green Industrial Policies in Cambodia”

Posted on by Sorn Chhorvyvatey

On 13th​ December 2024, at the Women Entrepreneurship Development Center, Ms. San Sokrina, Manager of Product Development and Cooperation participated as a guest speaker in the Capacity development, Training of Trainer on Better Implementation of Gender Responsive Green Industrial Policies for National Level, co-organized by the Ministry of Industry, Science, Technology & Innovation (MISTI) and Ministry of Women’s Affairs (MOWA) and United Nations Industrial Development Organization (UNIDO) and supported by the  BMZ of Government of Germany. This training aimed to strengthening the capacity development and participation relevant line-ministries to develop and implement practically on Gender responsive policies in Green Economy and Green Industrials.

Through this training, Ms. San Sokrina participated as a guest speaker in the session 5 focusing on Key investment in gender responsive green industry and shared about the credit guarantee mechanism to support the Green and Inclusive Finance.

Participants who attended this training gained essential skills to promote a gender-sensitive green economy and foster knowledge exchange. CGCC is also proud to share the importance of credit guarantee mechanisms for contributing in the development of green economic policies and green industries, which are essential for the sustainable development of Cambodia.

CGCC Participates as a Speaker in the Program My Money, My Life of Women’s Radio, Supported by the Association of Banks in Cambodia

Posted on by Sorn Chhorvyvatey

On December 19, 2024, Ms. Pin Manika, Manager of Marketing and Business Development of Credit Guarantee Corporation of Cambodia (CGCC), participated as a guest speaker in the program “My Money, My Life”, produced by Women’s Radio, supported by the Association of Banks in Cambodia (ABC), in which the topic was designed to raise public awareness about CGCC, conditions and procedures for obtaining guarantees, and especially the benefits of credit guarantee mechanisms for businesses. 

Through this program, Ms. Manika shared about the role, products, and services of CGCC to inform the public for more awareness of CGCC and enable business owners to benefit from using credit guarantee services by applying for business loans to CGCC’s Participating Financial Institutions including banks/microfinance institutions, in cases of lack or insufficient collateral. She also highlighted success story of a woman business owner who applied for guaranteed loan from CGCC’s partnered bank, giving more access to loans for essential uses. In addition, she also shared about CGCC’s involvement in capacity building and improving financial literacy for SMEs, which is one of CGCC’s priorities. 

As a recommendation and suggestion to business owners especially SMEs, she encouraged them to be well prepared to receive formal loans by preparing financial reports correctly and according to standards in order to develop themselves into standard business companies in the long term, and requested CGCC’s PFIs to continue to further promote to all employees and branches about CGCC’s credit guarantee services, which can help ease collateral requirements and improve SME’s access to formal loans. 

 

 

CGCC Attended the Friday Coffee Talk

Posted on by Sorn Chhorvyvatey

In the afternoon of 13 December 2024, Mr. No Lida, CEO of CGCC, and colleagues attended the Friday Coffee Talk organized by the Young Entrepreneurs Association of Cambodia (YEAC) on the topic of “Securing Capital with CGCC’s Bond Guarantee”, in which Mr. No Lida was one of the speakers, and participated by other 2 speakers including Mr. Iv Kimsour, CEO of APM (Cambodia), and Mr. Seng Chan Thoeun, CEO of Royal Group Securities (RGS).

The discussion focused on how to prepare to standardize the business, the importance of secure capital with bonds, understanding CGCC, and the procedures of CGCC’s bond guarantee, and some other challenges raised by business owners.

Entrepreneurship Program Initiative of CGCC (EPIC) 3rd Series of 2024

Posted on by Sorn Chhorvyvatey

On 06 December 2024, at the Business Development Center, Credit Guarantee Corporation of Cambodia (CGCC), and J Trust Royal Bank, co-organized the EPIC 3rd Series of 2024 on “Effective Business Operation in the Digital Age for MSMEs”, participated by around 50 trainees from the Micro, Small, and Medium Enterprises (MSMEs), in which approximately 65% are women entrepreneurs, and around 10 students from the AMT scholarship-Alumni Association.

The EPIC 3rd Series of 2024 was attended with high honor for the certificate presentation ceremony to all participants, trainers and distinguished speakers by His Excellency Dr. Mey Vann, Secretary of State, Ministry of Economy and Finance and the chair of the Group 6 of the A.M.T Scholarship Students-Alumni Association, and under the honor presence of Lok Chumteav You Bory, Vice President of the Cambodian Women’s Association, Mr. No Lida, CEO of CGCC, Ms. Hang Chuon Narita, Chief of Corporate Banking of J Trust Royal Bank, Mr. Pea Vanchhay, Head of SME of Corporate Banking of J Trust Royal Bank, and the management teams of both CGCC and J Trust Royal Bank.

Through this EPIC 3rd Series of 2024, all participants learned about “Business Operations in the Digital Age for MSMEs” shared by Ms. Sem Sreytouch, Founder of EPL Pollinate Enterprise and President of Cambodia Honey Association. Ms. Sreytouch shared comprehensive digital tools to streamline business operations, how to use digital tools to increase sales, business operation management, customer relations and promotion of products or services, cyber security, and shared strategies for adapting to future market trends and digitalization to stay sustainable and competitive in the digital era. All participants also shared their own practical experiences with each other through active group discussions on topics surrounding the importance of using digital tools and systems, challenges in transitioning to digital, and suggestions or requests for enhancing the performance of MSMEs.

In addition, participants also learned about “Credit Guarantee Mechanisms to Support Access to Finance for SMEs” through a presentation by Ms. Lim Chanthida, Director of Centralized Operations of CGCC. In line with the credit guarantee mechanism, Mr. Poch Pisal, Relationship Manager of SME of Corporate Banking of J Trust Royal Bank, also shared  “Credit Assessment Process and Financial Solutions for Businesses, and in particular, Support for Women Entrepreneurs.” with participants.

Capacity-building is one of the priorities of CGCC in the mission of improving financial inclusion and developing SMEs in Cambodia. EPIC is the flagship entrepreneurs’ capacity-building program of CGCC that will provide training to MSMEs on relevant and practical topics of business operations and management for entrepreneurs in collaboration with related stakeholders/Participating Financial Institutions/participants.

 

CGCC Annual Staff Retreat 2024 in Koh Sdach, Koh Kong Province

Posted on by Sorn Chhorvyvatey

To strengthen solidarity, increase productivity and appreciate all employees for their efforts to support the operation of credit guarantee, CGCC organized an Annual Staff Retreat accompanied by a training program on “Effective Communication Skills” as well as a team building in Koh Sdach, Koh Kong Province from November 29 to December 1, 2024.

Through this program, CGCC management team and staff have the opportunity to get to know each other, have a mutual understanding, and exchange work experiences, as well as increase capacity and additional knowledge of concepts and practices in effective communication skills to enhance the ability to work as a team  which contributes to the effective and efficient operations and development of CGCC in line with the vision of improving the financial inclusion and developing small and medium enterprises in Cambodia. 

Donation Ceremony for Replacement Parts for the Drinking Water System and Sharing Academic Knowledge from CGCC to Students of Koh Sdach High School

Posted on by Sorn Chhorvyvatey

On 29 November 2024, CGCC is pleased to once again visit Koh Sdach High School in Koh Kong Province under the leadership of Mr. No Lida, CEO of CGCC and along with management team and all CGCC staff to bring donations of drinking water filters and study materials to Koh Sdach High School, which was warmly welcomed by Mr. Phok Hoeun, Principal of Koh Sdach High School, teachers, and approximately 90 students of Koh Sdach High School.

It should also be noted that on 5 February 2023, CGCC donated water purification system to Koh Sdach High School to provide students and the whole community of Koh Sdach with clean water by reducing the shortage of clean water supply, the use of plastic water bottles, and daily expenses of students and the community in the island.

During this revisit to Koh Sdach High School, this initiative aims to assess the operational efficiency of the water purification system and provide essential spare parts for its technically proper maintenance service. Furthermore, CGCC management and staff enthusiastically engaged in a meeting with approximately 90 students from the 10th, 11th, and 12th grades. The purpose of this meeting with the students was to share their good knowledge, experiences, orientation, and provide guidance on selecting the appropriate major for pursuing their university studies.

CGCC Co-Organized the “Launching Seminar of Knowledge Sharing Program (KSP) 2024/2525″

Posted on by Sorn Chhorvyvatey

In the afternoon of 26 November 2024, at Hyatt Regency Hotel Phnom Penh, Credit Guarantee Corporation of Cambodia (CGCC) has co-organized the “Launching Seminar of Knowledge Sharing Program (KSP) 2024/2525”, presided over by H.E. Dr. Mey Vann, Secretary of State, Ministry of Economy and Finance, and H.E. Koh Seung Beom, Chairman of the Financial Education Council (FEC) of the Republic of Korea, and with the presence of the Republic of Korea delegates, CGCC management and staff, representatives of Participating Financial Institutions (PFIs) that are Business Partners of CGCC, and development partners, approximately more than 50 participants.

The launching seminar was held as a testament to the cooperation between the Ministry of Economy and Finance of the Kingdom of Cambodia through CGCC and the Ministry of Economy and Finance of the Republic of Korea, and to inform the public and CGCC’s partners about the progress and action plan of the CGCC for the KSP 2024/2025.

CGCC has been selected as one of the Cambodian institutions in the Kingdom of Cambodia to implement the KSP program among the many institutions and  countries that have submitted this project to the Government of the Republic of Korea. The KSP program will focus on (1) increasing credit analysis capacity for credit guarantee operations, (2) risk management, and (3) project development for credit guarantee to support the development of small and medium enterprises in Cambodia.

CGCC Participating in the Partnering and Congratulating the “Access to Finance for SMEs” Training Program

Posted on by Sorn Chhorvyvatey

On November 25, 2024, Mr. Yun Phan, Director of Strategy and Business Development of CGCC, along with team members, had the honor partnering with and congratulating the “Access to Finance for SMEs” training program. This program was organized by the Federation of Associations for SMEs of Cambodia (FASMEC) and Mekong Inclusive Ventures (MiV), with financial support from the Skill Development Fund (SDF).

Mr. Yun Phan expressed his interest in the role of Small and Medium Enterprises (SMEs) in Cambodia’s sustainable economic development. CGCC is committed to supporting the smooth implementation of this project through a skills training program and credit guarantees to partner banks and microfinance institutions. Collaboration with associations and partner institutions is also essential to foster the growth of entrepreneurs and SMEs in Cambodia. The successful implementation of this project will enhance CGCC’s ability to assess client risk and provide a broader range of credit guarantees, ensuring prompt customer service.

It is also noteworthy that this training program is intended to provide training, knowledge, and facilitate the acquisition of financing for small and medium-sized enterprises (SMEs) to utilize credit effectively for the purposes that drive SMEs in Cambodia to achieve sustainability, which in turn contributes to national economic growth.