CGCC Internship Program 2025

CGCC is thrilled to announce our newly established “CGCC Internship Program” where students/fresh graduates will gain hands-on experience, expose themselves in a professional setting and work alongside seasoned professionals from different departments in CGCC based on their skills and career aspirations.

Qualification Requirements:

  • University students in their 4th year/fresh graduates
  • Have strong educational and extra-curricular track records (transcripts required)
  • Good English proficiency
  • Strong communication, leadership skills and analytical capabilities
  • Able to work as a full-time intern (8h/day) for the period of at least 3 months
  • Willing to take the challenges to improve their creativity and initiatives

Interested candidates, please submit your application with supporting documents to

Email: [email protected]

For more information, please contact: 023 722 123

 

Meet the Business Owner Who Received a Loan Guaranteed by CGCC

My dream is to invest in a business that can contribute to people’s well-being because good health and mental well-being are essential for a good quality of life. This is the main reason why my wife and I started two businesses, ADK Rice and Muny Clinic. I established ADK Rice company because I believe that rice is the a primary food for many people, and with the increasing population and decreasing agricultural land, ensuring a stable rice supply is crucial. My wife and I jointly established Muny Clinic with the vision of providing affordable and high-quality healthcare services.

Through my experience working for a large rice exporter in Cambodia, I became aware of the challenges faced by farmers in rural areas, so I decided to start retailing rice for local consumption, called Angkor Dey Khmer. In 2021, the business expanded and evolved into ADK Rice (Cambodia), a company that produces high-quality rice that complies with food safety standards and provides farmers with a sustainable market and increased their income by contract farming supply to my company. Muny Clinic is a medical care and treatment clinic that was established in 2018 by my wife and me. We are committed to providing quality and affordable healthcare services to Cambodians, with a particular focus on treating diabetes and offering regular health check-ups to prevent serious diseases.

The goal of doing business is to develop and grow. My clinic business is no different. We want to acquire modern medical equipment to enhance the clinic’s standards and grow our business. We have decided to apply for a loan from a bank to make our dreams a reality. However, we do not have enough collateral or land title to pledge with the bank. This challenge was overcome with the help of CGCC credit guarantees, which alleviated this challenge and enabled me to get a loan from Prince Bank to purchase clinical equipment.

I obtained a CGCC guarantee on my loan not by chance, but because of the knowledge I gained from participating in the CGCC Capacity Building Program called “EPIC” series 1 of 2024 in May 2024. Through EPIC, I learned about CGCC and partner banks that can provide loans to potential businesses with a clear business plan but face challenges due to  lack of collateral. After receiving the guaranteed loan, I purchased additional medical equipment for our new clinic building, which is in line with the purpose of that guaranteed loan, business plan, and investment plan. In addition, I also plan to apply for additional loans for working capital to buy paddy rice from farmers to increase the rice production of my AKD rice in the future.

As a business owner, I acknowledge that understanding financial literacy is very important because it allows us to think in detail about investing in all aspects, such as purchasing assets to generate more income rather than buying any non-income-generating assets. On the other hand, with financial literacy, we can effectively manage human resources by taking into account factors such as the number of employees, salaries, incentives, and benefits.

Read and Download in PDF: Meet the Business Owner Who Received a Loan Guaranteed by CGCC

 

Understanding Market Structure

What products or services are your business offering? Who else in the market is offering similar products or services? What is your business strategy to stay ahead of the competition? The answers to these questions relate to the market structure in which your business operates. Market structure refers to the characteristics of a market, including the number of firms, the nature of products and services, freedom of entry and exit, and so on. Market structure plays a pivotal role in the strategic decision-making of a business – how to operate and compete.

Perfect Competition

In Phnom Penh, if you wish to purchase a pure drinking water bottle to satisfy your thirst on a hot day, you have many options like Vital, Angkor Puro, Dasani, Oral, Hi-Tech, Aruna, Cambodia, etc. Despite the different branding, these products share a very similar taste and are generally priced at approximately 0.25 cents per bottle, representing the equilibrium price in this market. If sold at the same place and in the same setting, any products priced above this equilibrium price will eventually be out of the market. The customer is indifferent to switching between these products for the lowest cost. This market of pure drinking water can be a close example of perfect competition.

Perfect competition is a market structure where numerous firms offer identical products or services, and no single firm has the power to set the price. Buyers have complete information about the products and services, and the price is determined by supply and demand. Entry and exit into this market are extremely easy. The key to competing in this market is to set the price equal to the marginal cost, an additional cost for an additional output. 

It is indeed rare, if not impossible, to find perfect competition in real life. The conditions for perfect competition, where many firms offer the same products or services, buyers have all the information, and entry and exit are easy, are seldom met. However, perfect competition serves as a theoretical benchmark that helps us understand the dynamics of real-life markets.

Monopoly

When I rejoined the Ministry of Economy and Finance in 2010, I was involved in the first-ever Initial Public Offering (IPO) on the Cambodia Securities Exchange. As the first IPO in Cambodia, the listing process of Phnom Penh Water Supply (PPWSA) was challenging and time-consuming. PPSWA was eventually listed successfully in April 2012, raising around USD 20 million. Equity investment in PPWSA is considered safe because PPSWA is the only licensed water supply operator in Phnom Penh and Ta Khmao. PPWSA offers an indispensable service (clean water supply) and has no competitors in its authorized areas. PPWSA can set the price without worrying about losing customers. In other words, PPSWA is a monopoly.

Monopoly is the opposite of perfect competition. In a monopoly, there is only one seller of a particular product and many buyers. There are barriers to entry. A monopoly maximizes profit by producing outputs when the marginal revenue (an additional earning from selling one extra unit) equals the marginal cost, and by charging the maximum price consumers are willing to pay for that output. However, the pricing strategy of monopolies is usually under strict government regulation to ensure social welfare. Other firms operating in Cambodia that can be considered monopolies include Electricity of Cambodia (EDC), NagaCorp, CINTRI, and the company I am serving, Credit Guarantee Corporation of Cambodia (CGCC).

Oligopoly

If you ask Cambodian people which mobile network service they are subscribed to, chances are they are using either Cellcard, Smart, or Metfone. These are the three leading players in this industry, holding more than 90% of the market share. Cellcard, Smart, and Metfone fiercely compete with one another on all fronts—price, product innovation, and advertising. Several mobile network companies have tried entering the Cambodian market to compete with these players. Most of them withdrew, such as Beelines and QB. The mobile network industry is an oligopoly.

An oligopoly is a market in which a small number of firms dominate and compete. This industry is highly competitive, and entering it is extremely difficult. The strategy of one firm can influence the strategies of other firms. Because there are only a few players, they often cooperate to limit output and charge higher prices to maximize their shared profits. This behavior is called collusion, which refers to the cooperation among firms in an oligopoly to make joint decisions and act as if they were a monopoly.

Other oligopoly industries include grocery store chains (Lucky Supermarket, AEON Supermarket, and CHIP MONG Supermarket), the retailed petroleum industry (TOTAL, TELA, and CALTEX), and movie cinemas (Legends and Major Cineplex).

Firms operating in different market structures require different strategies to compete and operate. So, which market structure is the best? It depends. Each market structure has its pros and cons depending on the industry and the Government’s policy toward the industry.

Summary of Market Structure

Read and Download in PDF: Understanding Market Structure

 

Understanding Credit Guarantee-Interview with Participating Financial Institution (Prince Bank)

1. What is Prince Bank’s perspective towards the credit guarantee schemes and why does Prince Bank partner with CGCC?

At Prince Bank, we have a clear vision of helping our customers achieve sustainable growth through comprehensive support and flexible lending options. Our strategic partnership with CGCC will bring us closer to this vision by providing entrepreneurs with better access to financing for their business expansion and growth, allowing them to operate with peace of mind. With our credit guarantee schemes, we firmly believe that our financial support will exceed our clients’ expectations.

2. How do the credit guarantee schemes benefit Prince Bank and your customers?

With the availability of credit guarantee schemes, both Prince Bank and its customers benefit from a reduced risk exposure for the bank and increased financing limits to meet business needs, regardless of the customers’ collateral availability.

3. So far, which type of loans does Prince Bank use the credit guarantees to support?

Since the inception of our partnership with CGCC, Prince Bank has utilized the credit guarantee to provide loans to customers as mentioned below:

  • Business Term Loan
  • Overdraft Loan
  • Trade Finance Facilities

4. How should the borrowers prepare themselves in order to get guaranteed loans from Prince Bank?

To borrow from Prince Bank, customers should diligently plan their business and determine their financial needs for growth. They can then consult with lending experts at any nearby Prince Bank branch for more information on available schemes. Once they have discussed and decided on a suitable scheme, they can submit a request to Prince Bank for further processing and approval based on its internal policy. CGCC will ultimately review this request for final approval on the proposed guaranteed scheme and amount, or Prince Bank will perform registration of the customer’s loan for CGCC’s guarantee after its internal approval.

5. What is the Prince Bank strategy/plan to further expand the disbursement of guaranteed loans in 2024 and also for the next year?

2024 was still a tough year for everyone, but Prince Bank is still open to lending to our customers, and we have spoken loud on our social media, website and newsagents on the availability of guaranteed schemes to help them if they don’t have sufficient collaterals for their borrowings. In 2025, we will continue our mission and commitment to provide financial support to our clients with a stronger collaboration with CGCC for existing and future suitable schemes.

Read and Download in PDF: Understanding Credit Guarantee-Interview with Participating Financial Institution (Prince Bank)

 

CGCC Annual Seminar on “Innovation of Credit Guarantee to Promote Green Financing

On 23 January 2025, Ministry of Economy and Finance and Credit Guarantee Corporation of Cambodia (CGCC) co-organized the CGCC Annual Seminar on “Innovation of Credit Guarantee to Promote Green Financing”, presided over by H.E. Ros Seilava, Secretary of State of Ministry of Economy and Finance, high representative of H.E. Deputy Prime Minister, Minister of Economy and Finance, at Hyatt Regency Phnom Penh.

CGCC Annual Seminar was organized to wrap up and celebrate accomplishments, review the progress of public credit guarantee schemes, award top-performing financial institutions, and launch new public credit guarantee product, as well as collect inputs from related stakeholders​ on innovating credit guarantee mechanisms to support green finance and develop small and medium enterprises in Cambodia. Approximately, around 150 participants from public institutions, domestic and international development partners, banks and microfinance institutions, securities firms, business associations, and related stakeholders attended the seminar.

Through this Annual Seminar, H.E. Ros Seilava officially launched the “Wholesale Guarantee Scheme of CGCC”, to provide guarantees on existing business loans of Participating Financial Institutions (PFIs) to share risk with PFIs and reduce the risk weight on the part of the exposure that is guaranteed by CGCC. According to the Prakas Credit Risk for Capital Adequacy Ratios in Deposit-Taking Banks and Financial Institutions of the National Bank of Cambodia on 29 June 2023, exposures denominated in riel or currency that are clearly and unconditionally guaranteed by the Royal Government of Cambodia, including guarantees by credit guarantee schemes established by the Royal Government of Cambodia, are zero percent risk-weighted.

In addition, H.E. Ros Seilava granted the Ministry of Economy and Finance’s Outstanding Awards to participating financial institutions including Prince Bank, Sathapana Bank, Canadia Bank, LOLC Microfinance Institution, and ABA, that have disbursed the most guaranteed accounts and a Special Award to Phillip Bank for maintaining the best Asset Quality in Guaranteed Loans in 2024.

H.E. Ros Seilava mentioned “Ensuring sustainable socio-economic development and building resilience to climate change are strategic goals of the Royal Government of Cambodia, with a priority on increasing sustainable and green finance to increase financial flows towards green investment and the green economy, and promoting climate-resilient and low-carbon public investment, etc. Investing in climate change not only can bring financial returns, but also socio-economic benefits. Therefore, I encourage relevant parties to focus on cooperation with the Royal Government in examining the feasibility of developing financial products, designing and implementing projects, and developing support mechanisms to increase the provision of green finance in Cambodia.”

In this annual seminar, there were also the Signing Ceremony on Credit Guarantee Agreement between CGCC and 2 new Participating Financial Institutions (PFIs), the Small and Medium Enterprise Bank of Cambodia (SME Bank) and Shinhan bank (Cambodia), and the Signing Ceremony on Memorandum of Understanding (MoU) between CGCC and Cambodia Microfinance Association (CMA) to improve financial inclusion and the financial literacy for SMEs.

Another objectives of the CGCC annual seminar is to create a discussion platform for sharing knowledge and experiences through a panel discussion on “Innovation of Credit Guarantee to Promote Green Financing”, shared by Mr. Kittipong Buranasiri , representative of Thai Credit Guarantee (TCG), Ms. Lee Hyeok, representative of Korea Credit Guarantee Fund (KODIT), Mr. Mohamed Azman Mohamed Taufik, representative of Credit Guarantee Corporation of Malaysia (CGC), and Mr. Nhim Soriya, representative of CGCC, moderated by Mr. Shakeel Ahmad, Deputy Resident Representative of UNDP Cambodia.

CGCC is a state-owned enterprise under the financial and technical guidance of the Ministry of Economy and Finance with a main mission to provide credit guarantees to improve financial inclusion and support the development of small and medium enterprises. CGCC has launched 5 individual guarantee schemes, 17 portfolio guarantee​ agreements, and bond guarantees, as well as the Entrepreneurship Program Initiative of CGCC (EPIC). As of 31 December 2024, after 4 years of operations, CGCC has approved credit guarantees on 3,139 accounts of business loans, amounting to USD 256.58 million across the country. Those businesses provide jobs for more than 30,000 employees.

Credit to: KIRIPOST, Published on 24 January 2025

GuarantCo and CGCC Sign Deal to Accelerate Sustainable Infrastructure Investment

GuarantCo, part of the Private Infrastructure Development Group (PIDG), and the Credit Guarantee Corporation of Cambodia (CGCC) have signed a Framework Agreement as part of the PIDG Credit Enhancement Facility (CEF) initiative.

The initiative seeks to accelerate the development of domestic capital markets and enhance financial inclusion through developing onshore guarantee capability. The Framework Agreement encompasses counter- and co-guarantee support from GuarantCo and technical assistance from PIDG Technical Assistance to help boost CGCC’s capacity. The Framework Agreement is also aligned with the mandate and prioritisation from the Ministry of Economy and Finance, and the Securities and Exchange Regulator of Cambodia who are seeking to deepen the corporate and project bond market in Cambodia.

The Framework was signed alongside the first transaction between GuarantCo and CGCC, wherein GuarantCo has provided a 10-year, USD 7 million portfolio guarantee to CGCC. Marking GuarantCo’s fourth investment in Cambodia, the portfolio guarantee will allow CGCC to mobilise further bank lending towards small and medium-sized enterprises (SMEs) in the country, with a focus on businesses supporting the green transition.

SME development is a high priority for Cambodia where a lack of access to formal banking services is common due to the nascency of green financing in the country.

The Framework Agreement follows a Memorandum of Understanding (MoU) signed in August 2024, which seeks to increase and upscale CGCC’s capacity through its involvement in a range of large-scale Corporate and Project finance deals. CGCC and GuarantCo will look to execute counter- and co-guarantees under the Framework, with a particular focus on catalysing sustainable infrastructure financing via the capital markets in Cambodia.

The accompanying PIDG TA grant programme will support CGCC to develop its technical capabilities in capital markets, allowing both organisations to scale their impact in Cambodia.

Denesh Srishanker, Group Head, Credit Enhancement Facilities at PIDG, said: “The signing of this Framework Agreement and completion of its first transaction less than five months after our MoU with CGCC is testimony to the market acceleration we want to achieve together. Establishing in-country credit enhancement facilities is key to support local market development and is therefore an integral part of PIDG’s 2030 Strategy to mobilise innovative infrastructure projects across Africa and Asia.”

Chinmay Naralkar, Deputy CEO at GuarantCo, said: “We are delighted to put into place this Framework Agreement with the Credit Guarantee Corporation of Cambodia and whilst cementing it with an inaugural transaction. The Framework will support CGCC’s growth in providing progressive sustainable infrastructure financing through local capital markets to support a green transition. Aligned with our strategic plans, we look forward to continuing to build our momentum in Cambodia to the benefit of the environment and local people and their livelihoods.”

No Lida, CEO of the Credit Guarantee Corporation of Cambodia, said: “We are pleased to demonstrate early progress in our collaboration with GuarantCo and PIDG with this Framework and our first international deal. This initiative aligns with CGCC’s strategy to enhance our bond guarantee capacity and support the development of SMEs in Cambodia. We seek to embed the international best practices represented by GuarantCo and PIDG as we build our capacity. This is a true cooperation in which we will learn from each other’s expertise while driving forward sustainable infrastructure for Cambodia.”

Credit to: Kiripost, Published on 17 January 2025

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

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.

 

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

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.

 

Empowering Local SMEs to Compete Globally: New Export Finance Solution and Capacity-Building Programme Launched

Phnom Penh, 23 November 2024 – Maybank Cambodia, in partnership with the USAID-funded Feed the Future Cambodia Harvest III project, is proud to announce the launch of the SME Export Finance Solution, providing tailored SME and trade financing options to empower Cambodian SME exporters to the global market. This programme also includes the Credit Guarantee Scheme and the Building Capacity & Capability (BCC) programme for SMEs, developed in collaboration between Maybank Cambodia and the Credit Guarantee Corporation of Cambodia (CGCC).

This partnership aims to elevate the competitiveness of local SMEs on the global stage, fostering sustainable growth and strengthening Cambodia’s presence in international markets. By offering tailored financial products—such as working capital loans, trade finance, competitive FX in 21 currencies, remittance solutions, and export credit facilities—the initiative equips SMEs with essential resources to overcome financial barriers and pursue international growth. This marks a transformative milestone for Cambodian SMEs, providing a pathway to expand operations, increase revenue, and secure their place in the global marketplace.

Mr. Rath Sophoan, Chief Executive Officer and Country Head of Maybank Cambodia, commented on the partnership, stating, “The SME Export Finance Solution is a game-changer for Cambodian businesses aiming for expanding exports to existing and or new international markets. By empowering SMEs to overcome traditional barriers to finance, this partnership advances individual business growth while contributing to the broader economic development of Cambodia.”

“SMEs are the backbone of the Cambodian economy, and by equipping them to succeed in export markets, this collaboration will fuel job creation, foster sustainable economic growth, and strengthen Cambodia’s position as a competitive player in the ASEAN region and beyond. This initiative also reinforces Maybank’s commitment to its role as the Best ASEAN bank in Cambodia, leading the way in regional economic empowerment,” he added.

Aligned with the objectives of Feed the Future Cambodia Harvest III —a five-year USAID-funded Activity focused on fostering inclusive and sustainable growth in Cambodia’s agriculture and SME sectors—this collaboration supports diversification, resilience, and competitiveness among Cambodian SMEs. By engaging private-sector partners and key stakeholders, the project aims to strengthen SMEs’ capacity to contribute meaningfully to Cambodia’s economic development and ultimately improve livelihoods for Cambodians.

Mr. Nimish Jhaveri, Chief of Party of Feed the Future Cambodia Harvest III, remarked, “With this new trade financing solution, we can provide SMEs with the necessary capital to manage production costs, invest in quality improvements, and fulfill international orders. An effective trade financing solution is crucial for these enterprises, as it not only helps bridge cash flow gaps but also enables them to compete more effectively by facilitating timely deliveries and expanding their market reach. Together, we ensure that these enterprises are equipped not only with financial resources but also with the knowledge and expertise required to succeed globally. This partnership plays a pivotal role in enhancing Cambodia’s export potential and advancing the country’s sustainable economic growth.”

In conjunction with the SME Export Finance Solution, Maybank Cambodia, CGCC, and Harvest III also announce ‘SME Building Capacity & Capability (BCC) Programme 2024 & 2025’, a flagship initiative designed to further equip SMEs with essential business skills and knowledge. Since its inception in 2021, the BCC Programme has provided hundreds of SMEs with training on business fundamentals, advanced techniques, and modern technologies. Building on this success, in 2024 the programme will deliver specialized sessions on trade finance solutions, financial management, and strategic planning, led by industry experts from accounting & business, consulting, and finance sectors. This training empowers SMEs with practical insights and skills needed to enhance their operations and optimize their growth potential.

Mr. No Lida, Chief Executive Officer of CGCC, expressed his strong support, stating, “The BCC Programme equips our SMEs with essential skills and knowledge, empowering them to access finance and expand their businesses. Through this initiative, we can help improve financial literacy and lay the groundwork for SMEs to thrive both locally and internationally. This programme is a crucial step toward our shared vision of fostering a resilient and dynamic SME sector that significantly contributes to Cambodia’s economic growth. Furthermore, the initiative is strengthened by CGCC’s Credit Guarantee Scheme, which addresses one of the biggest challenges faced by SMEs: insufficient collateral. By easing collateral requirements, we expand financing options, allowing SMEs to access the capital they need for sustainable growth.”

Together, Maybank Cambodia, Harvest III, and CGCC are building a robust ecosystem of support for Cambodian SMEs, positioning them to thrive in both domestic and global markets. Through the combined power of financial solutions, capacity-building programmes, and reduced collateral requirements through credit guarantee, this initiative provides SMEs with the resources, knowledge, and confidence to scale their businesses and pursue international opportunities.

This strategic alliance demonstrates a shared commitment to building a resilient, inclusive, and globally connected SME in Cambodia. Maybank Cambodia, CGCC, and Harvest III are paving the way for a future where Cambodian businesses are equipped to contribute significantly to the national economy while enhancing the country’s presence on the global stage.

CGCC Participated in the 36th Asian Credit Supplementation Institution Confederation (ACSIC) Conference in Nepal

From 20 to 25 September 2024, CGCC delegation led by H.E Dr. Mey Vann, Secretary of State of the Ministry of Economy and Finance and Chairman of the CGCC Risk Management Committee attended the 36th Asian Credit Supplementation Institution Confederation (ACSIC) in Kathmandu, Nepal, organized by the Deposit and Credit Guarantee Fund of Nepal under the theme “Financing Innovations for Economic Growth”.

Through this conference, HE Dr. Mey Van was invited to deliver a speech of interest after the official announcement of CGCC being the ACSIC member from 2024 onwards, thanking all ACSIC members for their support and welcoming CGCC as an official member and expressing the commitment for Cambodia to hosting the ACSIC Training Program for 2026.

Moreover, Mr. No Lida, CEO of CGCC, was also invited as a keynote speaker to share about CGCC’s credit guarantee and bond guarantee, especially to support small and medium enterprises through priority work on green financing projects. In addition, Mr. No Lida shared about the CGCC Capacity Building Program, which aims to support businesses, the involvement of credit guarantee mechanisms to increase employment opportunities, address climate change and gender equality, and consider financing solutions, sustainability and innovation through learning from good experiences from the member countries.

Through this conference, delegations from ACSIC member countries / observers presented on the progress of their respective credit guarantee schemes, as well as discussions on key topics such as financial innovation mechanisms, institutional risk management, credit guarantee, the use of digital systems (AI) and sustainable development.

The 36th ACSIC Conference was attended by more than 100 representatives of ACSIC members and relevant institutions such as the World Bank, the Central Bank of Nepal. It should also be noted that ACSIC is the largest association of credit guarantee institutions or similar institutions in Asia, established in 1987 to promote the development of credit guarantee systems for small and medium enterprises through information sharing, consulting and capacity building between the member institutions.

 

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