Maybank Cambodia, CGCC, BNI, CWEA ink MoU to Elevate SME Capacity and Capability Building

Maybank Cambodia, and Credit Guarantee Corporation of Cambodia (CGCC) have entered into a strategic partnership with Business Network International (BNI), and Cambodia Women Enterprise Association (CWEA) with an intent to support the local small and medium sized enterprises (SMEs) in the Kingdom through SME Building Capacity & Capability Programme (BCC).

Under the MOU, Maybank Cambodia, CGCC, BNI, and CWEA will collaborate to provide trainings and workshops to the members of BNI, and CWEA, and other participating SMEs to help them expand their businesses. The trainings will cover a range of topics relating to financial literacy and business operation.

The MOU will also pave the way for the participating SMEs’ long-term social and business growth through networking sessions, technical and knowledge sharing, and incentivised rates offered by Maybank Cambodia.

The MOU was inked at Maybank Tower and presided over by Rath Sophoan, Chief Executive Officer of Maybank Cambodia, Wong Keet Loong, Chief Executive Officer of CGCC, Kruy Rithy, President of BNI-Super, and Chea Ratha, Vice President of CWEA and witnessed by Dr Sok Siphana, Founding Partner of SokSiphana&associates and Chairman of Asian Vision Institute.

Sophoan, CEO of Maybank Cambodia said, “This MOU and BCC Programme signify Maybank’s continuous commitment to supporting the growth of SMEs in Cambodia. We believe that by providing training in capacity and capability building as part of the financial literacy programme, we are equipping SMEs with the right tools to sustain their business, thus contributing to the Kingdom’s overall economic development.”

Wong, Chief Executive Officer of CGCC said “We believe that the BCC Programme will be a valuable resource for SMEs in Cambodia and will help our entrepreneurs to grow and succeed with the broader opportunities to access to financing and improve financial literacy, which is aligned with our goals at CGCC”

Ratha, Vice President of CWEA endorsed “we are delighted to participate in this initiative, as it aligns with our mission of empowering women entrepreneurs through upskilling and networking.”

Rithy from BNI Super also expressed his optimism on the training. He said “We are confident that this partnership will be mutually beneficially, as it will allow our members to expand their networks, develop new skills, and grow their businesses.”

Credit to: Khmer Times, Published on 11 June 2023

Cambodia’s Credit Guarantee Agency, Chamber of Commerce Sign MoU to Boost Loan Access for MSMEs

PHNOM PENH, April 28 (Xinhua) — State-owned Credit Guarantee Corporation of Cambodia (CGCC) and the Cambodia Chamber of Commerce (CCC) have signed a memorandum of understanding (MoU) to promote access to guaranteed loans for the development of micro, small and medium enterprises (MSMEs), said a joint statement on Friday.

The cooperation will provide support to MSMEs, mainly CCC members, with greater access to finance despite collateral challenges, and promote financial literacy, including credit guarantees to CCC members across the Southeast Asian country, the statement said.

The CGCC is a state-owned enterprise providing credit guarantees on loans disbursed by participating financial institutions to support viable businesses that lack collateral when applying for loans, the statement added.

CGCC Chief Executive Officer Wong Keet Loong said the MoU will make it easier for CCC members to access financing, and demonstrate a shared commitment to promoting economic growth and development in Cambodia.

“Together with CCC, we can support the development of SMEs in Cambodia by improving financial inclusion and financial literacy,” he said. “By working together, the two organizations will help MSMEs overcome financing challenges and unlock their potential to drive economic growth in the country.”

CCC Director-General Nguon Meng Tech said the MSMEs play significant roles in economic development, but at the same time, they face a lot of challenges, particularly financial constraints.

“The MoU is a positive sign that will help strengthen and deepen the cooperation between the two institutions,” he said.

Incorporated in 2020, the CGCC had supported 1,275 businesses by providing credit guarantees for their loan applications in a total amount of 113.6 million U.S. dollars as of March 2023, the statement said.

Credit to: Xinhua, Published on 28 April 2023