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Meet a Small Fisheries Enterprise with a Big Dream

Posted on by Sorn Chhorvyvatey

Siem Reap Province: My name is Kim Sophors, and I am the owner of Spotlight Foods Enterprise. I produced dried fish, fermented fish, stuffed frog, and fish processing products such as crispy fish skin and fried fish bone. This business began as a family operation passed down from my mother. In 2019, my husband and I started focusing on improving and strengthening our product standards. Today, we have 3 full-time employees and 2 part-time employees.

Starting my business wasn’t easy. I began by following the traditional methods my mother taught me, but those methods made it hard to keep up with what the market demands. Because our production depended on natural condition, we could only produce dried fish during the dry season, which limited our supply. On top of that, I didn’t have enough knowledge about food safety, product standards, or modern machinery that could streamline our production chain. At that time, my production volume was very small, and I didn’t have the confidence to accept large orders.

In 2024, I learned about the Investment Support Facility (ISF) project from a friend. I looked for more information and decided to apply.  As a result, I received support to strengthen my processing capacity to standardize and modernize the infrastructure of my production.

Through this project, I received facility support, including a solar drying house and a freezer. I also gained new knowledge through capacity-building training on production, food safety, and the Certificate of Compliance to Requirements of the Cambodia Quality Seal (CQS) facilitated by UNIDO. In addition, I secured a guaranteed loan from CGCC through one of its PFI, under the ISF project, which helped me upgrade my infrastructure to meet building standards for handicraft production and purchase additional equipment.

Since receiving support from the project and the guaranteed loan from CGCC, my business has become about 20 percent more profitable. Before, I could only produce between 20 and 30 kilograms of fresh fish per day. Now, I can produce between 100 and 150 kilograms per day or even more depending on the orders I receive. On average, I produce between 50 and 70 kilograms of dried fish per day. Previously, I could produce less than 10 kilograms of dried fish.

I am really proud of this growth because it has not only increased my business revenue, but it has also created jobs for my team, boosted the income of fishermen and fish farmers, and local grocery sellers.

In addition, I feel even more confident in my products now because my dried fish has passed laboratory testing and is officially registered. Today, my products are sold in markets around Siem Reap and are distributed by traders to retails shops in the provinces and to restaurants. Also, I am currently working closely with AEON Malls  and Chip Mong Supermarkets to bring my products on their shelves, and I’m hopeful that they will be available there in early 2026. Looking ahead, I truly believe that within the next two years, Spotlight Foods Enterprise will reach international markets.

Download PDF: Meet a Small Fisheries Enterprise with a Big Dream

 

Site Visit to Hun Sen Mondulkiri High School in Mondulkiri Province

Posted on by Sorn Chhorvyvatey

On 21 November 2025, Credit Guarantee Corporation of Cambodia (CGCC) proudly visited Hun Sen Mondulkiri High School in Mondulkiri Province, led by Mr. No Lida, CEO of CGCC, along with the management team and all CGCC staff, and brought essential educational materials to support the learning environment at the high school. The visit was warmly welcomed by the Principal of High School, teachers, and students approximately 240 participants.

This meaningful visit to this high school, located in the northeast region of the country, was organized with the purpose of engaging directly with students and sharing valuable knowledge, real-life experiences, and practical guidance. Through interactive discussions, CGCC aimed to inspire students to choose their academic subjects wisely, set clear educational goals, and prepare confidently for their future studies at the university level.

As Cambodia’s only national credit guarantee institution, CGCC remains committed not only to strengthening financial inclusion and supporting businesses, but also to contributing to human capital development, an essential foundation for the country’s long-term economic growth.

 

CGCC and Wing Bank Signs Agreement on USD 50 Million Wholesale Guarantee Scheme

Posted on by Sorn Chhorvyvatey

 

On 16 July 2025, Credit Guarantee Corporation of Cambodia (CGCC) and Wing Bank (Cambodia) Plc is pleased to sign an Agreement on USD 50 million Wholesale Guarantee Scheme (WGS), with the honorable presence of Mr. No Lida, CEO of CGCC and Dr. Dmytro Kolechko, CEO of Wing Bank, and the honorable participation of management and of both institutions approximately 30 participants, held at Wing Tower.

Under the highest approval of H.E. Deputy Prime Minister, Minister of Economy and Finance, WGS was officially launched on 31 January 2025 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.

Mr. No Lida, CEO of CGCC, mentioned that “CGCC is pleased to launch our first Wholesale Guarantee Scheme (WGS) with Wing Bank. This innovative guarantee scheme will mutually benefit Wing Bank and CGCC. It will assist CGCC in effectively managing the quality of our guarantee portfolio to ensure long-term sustainability. Most importantly, it will increase available lending to SMEs.”

Dr. Dmytro Kolechko, CEO of Wing Bank, emphasized that “SMEs are the heartbeat of our economy, and with this partnership, we are better equipped to support their ambitions, fuel their resilience, and unlock their potential. I believe that when we invest in SMEs, we invest in the future of Cambodia. Together with CGCC, and with the support of the Royal Government, we are building a stronger, more inclusive financial ecosystem—one that empowers entrepreneurs and strengthens communities across the nation.”

Through this agreement, Wing Bank is the first CGCC Participating Financial Institution (PFI) to receive CGCC’s wholesale guarantee, aiming to increase and expand the bank’s capacity to provide essential financing to small and medium enterprises in Cambodia, and in line with CGCC’s shared commitment to improve the financial inclusion and contribute to national economic growth.

 

About CGCC

CGCC is a state-owned enterprise under the financial and technical guidance of the Ministry of Economy and Finance, with the primary mission of providing credit guarantees to enhance financial inclusion and support the development of small and medium-sized enterprises. CGCC’s products and services include loan guarantees in the banking sector, bond guarantees in the securities sector, and the Entrepreneurship Program Initiative of CGCC (EPIC). As of the end of June 2025, CGCC has approved guarantees on business loans in a total of 5,027 Guaranteed Accounts, amounting to approximately USD 305 million. For more information on WGS, please visit CGCC’s website at www.cgcc.com.kh or contact CGCC at 023 722 123.

 

About Wing Bank (Cambodia) Plc

Wing Bank (Cambodia) Plc is one of Cambodia’s fastest-growing digital banks, providing convenient access to financial and banking services across Cambodia. Wing Bank has offered comprehensive finance and banking services through its extensive network of 12,000  Wing Cash Xpress Agents, 120 Wing Master Agents, nearly 30 bank outlets, and a multi-function mobile app. Over 600 businesses and government institutions, along with 170,000 merchants, rely on Wing Bank for their operations. The bank is dedicated to promoting financial, gender, and digital inclusion, ensuring all Cambodians can benefit from secure and convenient digital finance and banking solutions. For more information: www.wingbank.com.kh

 

CGCC Unveils $200M Economic Stimulus Guarantee Scheme

Posted on by Sorn Chhorvyvatey

Synopsis: The scheme is in line with the Royal Government’s Pentagonal Strategy – Phase 1, focusing on economic diversification, financial inclusivity, and private sector development.

In a major move to support Micro, Small and Medium Enterprises (MSMEs) and large firms in securing much-needed financing, the Credit Guarantee Corporation of Cambodia (CGCC) has launched a $200 million Economic Stimulus Guarantee Scheme (ESGS). The scheme took effect on July 1, following the conclusion of the Business Recovery Guarantee Scheme (BRGS), which expired on June 30.

In a statement released on Monday, CGCC said that the ESGS was approved by Deputy Prime Minister and Minister of Economy and Finance and is designed to support MSMEs and large firms in securing much-needed financing. Under the new scheme, CGCC has increased its guarantee coverage to as much as 90 percent of the total loan principal. The minimum guarantee fee has been lowered to just 0.75 percent of the outstanding guaranteed amount, alongside other favourable conditions to encourage greater loan disbursement from Participating Financial Institutions (PFIs).

The scheme is in line with the Royal Government’s Pentagonal Strategy – Phase 1, focusing on economic diversification, financial inclusivity, and private sector development. “As a state-owned enterprise under the Ministry of Economy and Finance, CGCC is committed to promoting financial inclusion and supporting enterprise development,” the statement said.

CGCC currently provides a range of credit guarantee products, including loan guarantees in the banking sector, bond guarantees in the securities market, and the Entrepreneurship Program Initiative of CGCC (EPIC).

Tech noted that while the government has introduced a range of support measures for SMEs—such as tax relief, capacity-building programmes, and social protection services—CGCC has played a distinct and crucial role by providing credit guarantees to businesses that lack collateral. With ongoing disruptions at the Cambodia-Thailand border affecting the flow of goods, he said there is an even greater need to strengthen the domestic SME sector. “Some SMEs have already used CGCC-backed loans to expand successfully. We need to build on that momentum and make sure more businesses can access this support.”

However, he added that effective implementation requires close collaboration between CGCC and the SMEs. “It’s important for CGCC to work with businesses that are applying for guarantees to ensure they have clear and realistic business plans. This will help ensure the sustainability of the loans and reduce the risk of default.”

Tech also urged CGCC to consider ways to ease the financial pressure on SMEs by lowering interest rates. “Currently, the interest rates under the guarantee scheme are still similar to what banks charge. If CGCC can work with lending institutions to reduce these rates, it would make a big difference for small businesses trying to recover and grow.”

He concluded that CGCC’s role will remain vital in the years ahead as Cambodia looks to build a more resilient and self-sustaining economy led by a strong SME sector.

CGCC continues to strengthen its role in enhancing access to finance for micro, small, and medium enterprises (MSMEs), particularly those with limited collateral or facing credit constraints.

No Lida, CEO of CGCC, said recently that the credit guarantee scheme has become an effective mechanism to support high-potential enterprises in expanding their operations. “Small and medium-sized enterprises with strong potential often face difficulties securing loans due to a lack of collateral or perceived risks. To address this, the government, through CGCC, provides credit guarantees to enable these businesses to access financing,” he said.

Through its guarantee schemes, CGCC covers up to 80 percent of the loan amount, giving banks and microfinance institutions the confidence to extend credit to SMEs in need of working capital or investment for business expansion. The scheme is implemented in partnership with PFIs, including the state-run Agriculture and Rural Development Bank and SME Bank, to channel credit to viable enterprises across various sectors.

Established in November 2020, CGCC serves as Cambodia’s official credit guarantee institution. Its mission is to promote financial inclusion, support the development of the SME sector, and contribute to economic growth. The guarantee schemes have helped enterprises seize investment opportunities, create jobs, and improve incomes nationwide.

Credit to: Khmer Times, Published on 02 July 2025

 

Entrepreneurship Program Initiative of CGCC (EPIC 4)

Posted on by Sorn Chhorvyvatey

On 25 April 2025, in Kampong Cham province, Credit Guarantee Corporation of Cambodia (CGCC) and the Department of Industry, Science, Technology & Innovation Kampong Cham province, co-organized the EPIC 4 on “Bankable Business Plan for SMEs”, presided over by Mr. Poun Run, Chief of the Department of Industry, Science, Technology & Innovation Kampong Cham province, and with honorable presence of Mr. No Lida, CEO of CGCC, participated by trainees who are Micro, Small, and Medium (MSMEs), especially Private Water Operators in Kampong Cham and the various provinces, in total 75 participants, in which 28 are females.

Through the EPIC 4, trainees learnt about the training topic on “Bankable Business Plan for SMEs” shared by Ms. Chau Lonmolika,, who is the CEO and Founder of Cambodian Standard Development & Supply Co., Ltd., and BoD in charge of Commission Access to Finance of YEAC. After learning about the training topic, all participants also shared their experiences with each other through a group discussion forum on creating a one-page business plan (Business Plan Model Lean Canvas), which was an opportunity for participants to practice and receive constructive feedback from the trainers and guest speakers.

Moreover, trainees also learnt about “CGCC’s Credit Guarantee Mechanism to Support the Access to Formal Financing of MSMEs” through the presentation by Mr. Yun Phan, Director of Strategy and Business Development of CGCC. Mr. Yun Phan also shared the Utilities Development Guarantee Scheme (UDGS) f with private water operators, which will be officially launched very soon to support them.

In line with the CGCC credit guarantee mechanism, Mr. Taing Hokleng, Head of Retail SME of Maybank Cambodia, also discussed “Bank Loans Assessment and Guaranteed Loans/Financial Solutions for SMEs” and the financial solutions that Maybank could provide with private water operators.

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 for entrepreneurs in collaboration with related stakeholders/Participating Financial Institutions.

Fish Processing Businesses Receive Funding Boost to Expand

Posted on by Sorn Chhorvyvatey

Small- and medium-sized fish processing enterprises are set to see their operations expand after an agreement was signed between the Credit Guarantee Corporation of Cambodia and CAPFISH-Capture.

Eleven fish processing enterprises are set to benefit from support agreements signed between the Credit Guarantee Corporation of Cambodia (CGCC) and the EU-funded CAPFISH-Capture: Post-harvest Fisheries Development in a major milestone in promoting financial inclusion and growth in the post-harvest fisheries sector.

On February 21, 2025, the two organisations officially signed an agreement for 11 fish processing enterprises as part of the Investment Support Facility (ISF). The financing scheme totals approximately $2.5 million.

This comprises $1 million in grant funds (40 percent of total investment) from the project as equipment support, $1.25 million (50 percent) in loans from participating financial institutions (PFIs) guaranteed by the CGCC, and $250,000 (10 percent) contributed by the beneficiaries.

The ISF is an initiative under the CAPFISH-Capture project funded by the EU and administered by the CGCC in collaboration with the United Nations Industrial Development Organization (UNIDO) and the Fisheries Administration (FiA).

“Since its inception in late 2024, the ISF has welcomed its first group of 11 fish processing enterprises, with many more in the pipeline for this groundbreaking support,” according to a statement.

“The project has provided its initial grant funding of around $320,000, leveraging an additional $340,000 guaranteed loans from CGCC’s PFIs, such as ACLEDA Bank and Maybank Cambodia, along with $580,000 from the enterprises themselves.”

The ISF has a primary focus on supporting post-harvest fisheries enterprises who are aiming to boost their operations and expand their market reach nationally and internationally. It has a strong emphasis on empowering businesses led by women, youth and people with disabilities.

Through the initiative, the CGCC and CAPFISH-Capture project aim to help eligible post-harvest fisheries enterprises meet food safety and market standards. Tailored support includes assistance with business development, market linkages, food safety compliance, and environmental and social safeguards.

For more information on the initiative and how post-harvest fisheries enterprises can apply for the funding through the CGCC website.

Credit to: KIRIPOST, Published on 26 February 2025

CMA and CGCC Forge Strategic Partnership to Enhance Financial Inclusion

Posted on by Sorn Chhorvyvatey

The Cambodia Microfinance Association (CMA) and the Credit Guarantee Corporation of Cambodia (CGCC) have officially signed a Memorandum of Understanding (MoU) to collaborate on promoting sustainable financial inclusion across Cambodia.

This official partnership was announced during the CGCC Annual Seminar on “Innovation of Credit Guarantee to Promote Green Financing” held here on Jan. 23 under the presidency of Ros Seilava, Secretary of State at the Ministry of Economy and Finance and Chairman of CGCC.

According to a joint press release, AKP received this morning, this strategic partnership aims to foster the growth of banking and financial institutions (BFIs) and support micro, small, and medium enterprises (MSMEs) through capacity development, digital financial services, and enhanced financial literacy.

Under the MoU, CMA and CGCC will collaborate to strengthen and develop the capacity of MSMEs, BFIs, and stakeholders through training, workshops, seminars, and research studies.

This partnership will also focus on advancing financial literacy and digital finance and promoting the development of green finance in Cambodia. Both organisations are committed to leveraging their resources to ensure the successful implementation of various initiatives to boost the financial sector’s contribution to the country’s economic development.

Oknha Hout Ieng Tong, a CMA representative, said this partnership marks a significant step toward advancing financial inclusion in Cambodia.

“By combining our expertise and resources, we can create a more robust financial ecosystem that supports the growth of MSMEs and contributes to the country’s sustainable development,” he said.

No Lida, CGCC’S Chief Executive Officer, said that there are opportunities for CGCC, CMA, and CMA’s members to use credit guarantees to increase lending to underserved businesses across the country.

“This MoU is a testament to our shared commitment to fostering economic growth and sustainability in Cambodia,” he said.

The MoU is effective for three years from the date of signing and outlines a framework for cooperation in achieving the shared objectives.

Both parties are dedicated to ensuring the confidentiality of shared information and successfully executing agreed initiatives. AKP

Credit to: Khmer Times, Published on 24 January 2025

 

GuarantCo and CGCC Sign Deal to Accelerate Sustainable Infrastructure Investment

Posted on by Sorn Chhorvyvatey

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)

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.