Tag: Financing
Signing Ceremony on the MOU Between Credit Guarantee Corporation of Cambodia And Lao Credit Guarantee Sole Company Limited
Meet an Inspiring Woman Entrepreneur in the Rice Sector: Growing from Family Businesses to International Markets
Mrs. Lor Sengleap is the director of Sek Meas Rice Milling and the founder of Lor Eak Heng Sek Meas Rice company. She took over the family-owned rice milling business from her father in 1994. Over the years, as she observed the industry’s potential, growing market demand, and pursued her dream of exporting rice abroad, she began developing and expanding the business in 2011.
She shared how her rice export journey began, mentioning that she used a loan as working capital to purchase rice and increase her stock. This enabled her to fulfill her dream of exporting rice for the first time in 2014. Today, her company exports rice to Europe, the United States, and mostly to the Chinese market.
She also shared that expanding the business was difficult due to limited capital and a lack of knowledge about standard machinery. However, these challenges did not stop her, as she spent time learning and raising capital to equip the business with machinery that met operational standards.
“I expand in stages. Each year, we focus on expanding specific areas. We need to have a clear goal for what we want to expand each year to produce rice.” she said.
Her business expansion continued to face capital constraints until she received information about a business loan guarantee from the Cambodia Rice Federation. She then applied for a loan as working capital to expand her business. She added, “This guaranteed loan is beneficial because we already have loans at commercial banks. Since CGCC does not require collateral, we can apply for a guaranteed loan through CGCC’s partner bank as additional working capital.”
She recalled starting the business alongside her father with just two workers. Over time, the business has grown to employ 40 workers. Today, her rice mill produces between eight and ten containers a day, with each holding 24 tons. She is also able to purchase around 600 tons of wet paddy daily, compared to less than 100 tons in the past when traditional drying methods were used.
“Before, I was only able to buy paddy rice that farmers brought in for retail. After expanding my business, I installed a paddy drying machine and began purchasing paddy delivered by truck in large volumes,” she emphasized.
Her ambition did not stop there. She wishes to expand her business and contribute to Cambodia’s rice exports, with the aim of promoting Cambodian rice products, helping rice farmers access markets, and supporting the national economy. In early 2026, Mrs. Lor Seng Leap received a certificate of appreciation and an award as a top performing beneficiary of CGCC who utilized guaranteed loans effectively. The award was presented to her by His Excellency Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance.
Download PDF: Inspiring Woman Entrepreneur in the Rice Sector: Growing from Family Businesses to International Markets
CGCC’s 5-Year Anniversary “5 Years of Strategic Guarantees for Inclusive Economic Development”
CGCC’s 5-Year Anniversary “5 Years of Strategic Guarantees for Inclusive Economic Development”
On 27 January 2026, the Ministry of Economy and Finance and Credit Guarantee Corporation of Cambodia (CGCC) co-organized CGCC’s 5-year Anniversary under the theme “5 Years of Strategic Guarantees for Inclusive Economic Development”, presided over by H.E Dr. Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance, at Sun and Moon Riverside Hotel.
This 5-year Anniversary celebration was organized to commemorate CGCC’s significant milestones, review institution’s performance over the past five years of operations, award the Top-Performing Financial Institutions and the Top Enterprise Beneficiaries, and recognize outstanding CGCC staff, as well as gather inputs from relevant stakeholders regarding CGCC’s role in building an inclusive, resilient, and sustainable financial system in Cambodia. Approximately 150 participants from public institutions, development partners, banks and microfinance institutions, securities firms, business associations, and other stakeholders attended the event.
Through this ceremony, H.E Dr. Aun Pornmoniroth officially launched the “Individual Guarantee Plus,” a new scheme of CGCC designed to support government policies, strategies, and priority sectors, including the rice sector, cassava, manufacturing, social housing development, and affordable housing. This scheme is designed to enable borrowers to submit an Expression of Interest to CGCC to obtain a guarantee of up to USD 10 million per loan for working capital and business expansion and allows CGCC to jointly assess, with PFIs, the borrowers’ repayment capacity.
In addition, H.E Dr. Aun Pornmoniroth granted the Ministry of Economy and Finance’s Outstanding Awards to CGCC’s top 3 Participating Financial Institutions, including ABA Bank, Maybank, and Sathapana Bank, that have disbursed the most guaranteed accounts in 2025. The awards also recognized the top enterprise beneficiaries, including Sek Meas Ricemill, Bayon Heritage Holding Group Co., Ltd, and Samnang Dina Lumchang Water Supply, that utilized guaranteed loans effectively. Furthermore, Certificates of Appreciation were presented to ten outstanding CGCC employees in recognition of their longest services, responsibility, professionalism, and dedication to the development of CGCC.
H.E Dr. Aun Pornmoniroth stated that “The establishment of CGCC was a sound and strategic decision by the Royal Government during the 6th Legislature of the National Assembly, under the wise and farsighted leadership of Samdech Akka Moha Sena Padei Techo Hun Sen, former Prime Minister and current President of the Senate, in implementing intervention measures through credit guarantee mechanisms aimed at restoring and promoting economic growth—particularly during the global COVID-19 crisis—based on international best practices and Cambodia’s actual socio-economic context. The credit guarantee mechanism has contributed significantly to the implementation of the Royal Government’s key policies, including: (1) Promoting financial inclusion, especially for Small and Medium Enterprises (SMEs), by increasing their access to financing, (2) Strengthening private sector development, by supporting investment, expanding business operations, and creating more jobs, especially for the youth, (3) Strengthening economic resilience, by increasing market confidence and risk sharing, especially during crises or challenges arising from external factors beyond Cambodia’s control.” [unofficial translation]
CGCC is a state-owned enterprise under the financial and technical guidance of the Ministry of Economy and Finance with the primary vision of providing credit guarantees to enhance financial inclusion and contribute to economic growth. Over the past five years, CGCC has implemented 7 individual guarantee schemes, 17 portfolio guarantee agreements, 1 bond guarantee agreement, and 3 Wholesale guarantee agreements, as well as the Entrepreneurship Program Initiative of CGCC (EPIC). As of 31 December 2025, after 5 years of operations, CGCC has approved credit guarantees on 9,556 accounts of business loans, amounting to USD 521.28 million across the country.
CGCC Participates in Climate Venture Scaler: Pipeline Development and Capital Facilitation
On 11 December 2025, Mr. No Lida, CEO of CGCC participated as a panelist in the Panel Discussion on “Fostering Climate Actions through Private Sector Development and Engagement in Cambodia.” It was held as part of the Climate Venture Scaler: Pipeline Development and Capital Facilitation, organized under the Climate Finance Network, hosted by the United Nations Development Program (UNDP) in partnership with the Impact Investment Exchange (IIX), with support from the Governments of the United Kingdom, Sweden, and Norway. The convening aimed to strengthen Cambodia’s climate finance ecosystem by promoting private sector participation, mobilizing capital, and supporting scalable climate solutions.
Mr. No Lida also shared the roles of the CGCC in providing credit guarantee to lending institutions in enabling SMEs access to finance to invest in climate-related initiatives and reduce carbon emissions in order to support sustainable economic growth in Cambodia. The discussion highlighted the need for strong collaboration between the government, financial institutions, development partners and the private sector to create a strong flow and sustain climate-focused investment opportunities, and to drive Cambodia’s transition towards a more resilient and climate-friendly economy.
Entrepreneurship Program Initiative of CGCC (EPIC 7)
On 4 December 2025, in Battambang Province, Credit Guarantee Corporation of Cambodia (CGCC), and ABA Bank co-organized the EPIC 7 on “Business Operations in the Digital Age for MSMEs”, with the honorable presence of Mr. Ros Visith, Director of the Department of Industry, Science, Technology and Innovation, Battambang Province, Ms. Chun Sothany, Director of Strategy and Business Development of CGCC, Ms. Mak Davy, Deputy Chief of Medium Business Lending Officer at ABA Bank, and Micro, Small, and Medium Enterprise (MSMEs) owners in Battambang, along with management and staffs of the three institutions, approximately 70 participants.
As part of the EPIC 7’s agenda, participants were provided with a presentation on “Credit Guarantee Mechanisms to Increase Access to Finance for SMEs” by Mr. Se Kimveasna, Senior Executive of Marketing and Communication of CGCC, and a presentation on “Credit Assessment Procedures and Guaranteed Credit Products for Businesses” by Mr. Soeun Sobal, Provincial Branch Manager of ABA Bank.
In addition, participants learned about the core training topic on “Business Operations in the Digital Age for MSMEs” delivered by Ms. Chun Sothany. The session enhanced their understanding of the real challenges MSMEs face in adapting to rapid digital transformation and introduced them to practical digital tools to improve operations, marketing, and customer engagement. Participants also gained valuable insights into identifying appropriate solutions and support mechanisms, along with key strategies to increase their chances of securing financing and using loans effectively to strengthen and grow their businesses.
Capacity-building is one of the CGCC’s key priorities in improving financial inclusion and fostering the development of SMEs in Cambodia. EPIC is the flagship entrepreneurs’ capacity-building program of CGCC, providing training to MSMEs on relevant and practical topics of business operations and management for entrepreneurs, in collaboration with related stakeholders and Participating Financial Institutions.
Understanding CGCC Bond Guarantee Process
CGCC Bond Guarantee Process: Simple Steps for Issuers
Issuing a bond may sound complex, but with the support of the Credit Guarantee Corporation of Cambodia (CGCC), the process is well structured, and more convenient than many expect. CGCC’s bond guarantee helps issuers strengthen investor confidence, enhance their credit profile, and access capital on better terms.
The application journey has been designed to guide issuers step by step — from the expression of interest to the official guarantee. Each stage is transparent, where CGCC works closely alongside with issuers to ensure they are well prepared.
Step 1: Letter of Intent
It all begins with a simple Letter of Intent (LOI). By sharing basic company details, historical financial statements, bond issuing information, list of potential investors, corporate governance information and engagement letter with underwriter, issuers open the door for CGCC to check initial eligibility. This step is quick and straightforward.
Step 2: Full Application
Once the preliminary eligibility check is completed, issuers are invited to submit a full guarantee application. This typically includes the CGCC Bond Guarantee Application Form, a detailed business or budget plan with cash flow projections, constitutional and corporate approval documents, credit rating, and all relevant regulatory licenses and permits. In addition, issuers are expected to provide commercial and legal due diligence reports covering financial, operational, legal, social and environmental aspects. Security documents, key contracts with related parties, and any other supporting materials may also be required where necessary.
Step 3: Assessment
At the Assessment Stage (Desk Assessment), CGCC reviews the bond application to evaluate the issuer’s financial soundness, creditworthiness, and project viability. This includes analysis of audited financial statements, cash flow projections, governance, and key risks to ensure the bond meets CGCC’s eligibility and risk criteria before moving to due diligence stage.
Step 4: Approval in Principle (AIP)
After the desk assessment, CGCC may issue an Approval in Principle (AIP) indicating preliminary approval to proceed. The AIP confirms the issuer meets initial eligibility and risk criteria and sets conditions for the next stage of due diligence before final approval.
Step 5: Due Diligence
After receiving Approval in Principle (AIP), CGCC conducts a comprehensive due diligence process covering financial, legal, operational, environmental and social impact aspects of the issuer. This includes site visits, management interviews, and verification of key documents and reports, such as financial and legal due diligence findings, to confirm the issuer’s overall credibility, governance, and capacity before final approval.
Step 6: Effective Approval & Guarantee Issuance
After completing due diligence, the process advances to the Effective Approval stage or the final step before finalizing the guarantee. At this stage, all assessments, terms and conditions are confirmed to be satisfactory prior to the issuance of the Guarantee Agreement and the formal execution of the bond guarantee.
Recommendations to Potential Issuers
Potential bond issuers are encouraged to engage early in the process and prepare key documents such as audited financial statements, business projection, due diligence report and especially credit ratings in advance. Early preparation helps streamline the assessment which leads to smoother and faster approval.
Ready to Start Your Bond Guarantee Journey?
With CGCC’s support, the bond guarantee process is not only manageable but also a valuable step toward market success. Our team is here to guide you from the very first inquiry to the final guarantee.
To explore how CGCC’s bond guarantee can support your bond issuance, we encourage you to reach out to our team for more information.
- Gmail: [email protected]
- Tel: 023 722 123
- Website: www.cgcc.com.kh/bond-guarantee
Download PDF: Understanding CGCC Bond Guarantee Process
Meet a Female Entrepreneur Who Recycles Horn Waste into Ornaments and Jewelry
My name is Kuon Chenda, and I am the owner of Somornea Horn Handicrafts. I have been running my business since 2003 with the aim of addressing horn wastes problem in my neighborhood. Starting this business was far from easy. I faced social pressure, financial instability, and the challenge of finding a product-market. At one point, I even gave up the business. However, because of my husband’s passion and skills, we moved to Phnom Penh in 2015 to restart and strengthen our business.
Presently, my business has 5 employees, including my husband, who serves as a craftsman and designer. He also trains apprentices. I am the general manager of this business, managing sales and marketing. Initially, we focused on home decoration products, such as statues, which we exported abroad. At that time, there was an association that supported finding international customers for us. However, due to the challenge with transportation and products breakage, we shifted our focus to ornaments and jewelry, such as necklaces, rings, and bracelets.
Unfortunately, the association was closed down, which caused our orders to drop significantly. We lost some overseas customers, leading to a decline in our business during the COVID pandemic. During this period, we closed our shop and shifted to selling through social media. Sales were promising at first, but they eventually decreased. As the situation improved, we began selling at exhibitions. Currently, I sell my products in two locations: at Chip Mong 271 supermarket and on weekends at the Riverside Walk Street.
As a business owner, I believe capacity development is vital for business owners. It is an opportunity to gain new knowledge to strengthen and grow a business. I often take time to participate in capacity-building sessions offered by associations, institutions, and other relevant stakeholders. For instance, when I attended EPIC training, I learnt about creating a business plan, which inspired me to critically assess my business and identify my shortcomings. At the same time, I also learned about business loans, tips for sourcing capital, and setting clear goals for an effective business plan.
Based on my business experience, I encourage all business owners to remain flexible in their business operations, especially by listening to customers’ needs and feedback, and strengthening marketing strategies and methods to ensure customers are aware of the quality and products you offer.
Download PDF: A Female Entrepreneur Who Recycles Horn Waste into Ornaments and Jewelry
CGCC, CWA, FTB, and Water.org Forge Strategic Partnership to Enhance Access to Formal Financing to Support Clean Water Sector in Cambodia
On 30 October 2025 at CGCC Head Office, there was a Signing Ceremony on Portfolio Guarantee Agreement on Utilities Development Guarantee Scheme (UDGS) for Private Water Operators between CGCC and Foreign Trade Bank of Cambodia (FTB), and Memorandum of Understanding (MOU) between CGCC and Cambodian Water Supply Association (CWA), and MOU between CGCC and Water.org.
This signing ceremony was presided over by H.E. Dr. Mey Vann, Secretary of State, Ministry of Economy and Finance, H.E Oum Sotha, Secretary of State, Ministry of Industry, Science, Technology, Innovation. The signatories included Mr. No Lida, CEO of CGCC, Mr. Dith Sochal, CEO of FTB, Mr. Lim Minh, Executive Director of CWA, Ms. Gay Santos, Regional Director of Water.org at CGCC’s Head Office. The event was attended by 70 participants, including Private Water Operators (PWOs), management, and staff of the four institutions.
Utilities Development Guarantee Scheme (UDGS) for Private Water Operators (PWOs) is an initiative to support private water operators in securing sufficient financing through favorable credit guarantees.
Mr. No Lida, CEO of CGCC, mentioned that “Supply of clean water is an essential service that must be expanded in Cambodia for the public well-being as well as for socio-economic development. CGCC is honored to launch this dedicated Guarantee Scheme to promote clean water development in Cambodia by offering favorable guarantee terms and conditions. This initiative is made possible through collaboration with key partners including FTB, CWA, and Water.org. Each partner will contribute to the effective implementation of this Guarantee Scheme, especially ensuring that the guaranteed loans are disbursed to the right and potential water operators with manageable risk. In this initial phase of this Guarantee Scheme, CGCC and FTB are committed to disbursing USD 5 million guaranteed loans to clean water supply operators in Cambodia.”
Under this Guarantee Scheme, CGCC will provide guarantees on loans disbursed by FTB, CGCC’s partnered bank since 2021, to PWOs in Cambodia.
Mr. Dith Sochal, CEO of FTB, emphasized that “The signing of the Portfolio Guarantee Agreement under the Utilities Development Guarantee Scheme between FTB and CGCC marks a significant milestone in a strong and growing partnership that began in 2021. Since then, the collaboration has expanded steadily, supporting a total loan portfolio exceeding US$19 million—including US$2.3 million dedicated to private water operators. Through this collaboration, both institutions have shared commitment to fostering innovation in the water sector and advancing sustainable water management practices across Cambodia.”
To mitigate risk and to select the right private water operator, CGCC and FTB will cooperate to provide guaranteed loans to private water operators, who are members of CWA and have received technical or financial support from Water.org.
Mr. Lim Minh, Executive Director of CWA, added that “This partnership represents a major step forward for private water operators as they work to expand clean water services within their licensed areas. Through CWA’s active participation, our members will gain access to transparent and secure financing, enabling them to grow their operations and contribute directly to the global goal of universal access to clean water by 2030.”
Ms. Gay Santos, Regional Director of Water.org., also stated that “Water.org began its work in Cambodia in 2022 and, through strong partnerships, has helped more than 2.19 million people and mobilized over USD 281 million for water and sanitation. Despite considerable progress, the proportion of the population with access to safely managed water and sanitation remains inadequate to achieve Cambodia’s SDG 6 objective. As such, Water.org strongly supports the initiative to improve access to finance for private water operators in Cambodia.”
Utilities Development Guarantee Scheme (UDGS) for Private Water Operators (PWOs) is a new initiative designed to improve private water operators’ access to formal financing by mitigating collateral constraints and providing credit guarantees under favorable terms and conditions. As part of this strategic partnership, the four parties will enhance cooperation in promoting and supporting business growth through operational financing, supporting the Royal Government of Cambodia’s objectives of achieving universal access to clean water by 2030.