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Tag: SME Development

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.

 

Understanding CGCC Bond Guarantee Process

Posted on by Sorn Chhorvyvatey

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.

Download PDF: Understanding CGCC Bond Guarantee Process

 

Meet a Female Entrepreneur Who Recycles Horn Waste into Ornaments and Jewelry

Posted on by Sorn Chhorvyvatey

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

Posted on by Sorn Chhorvyvatey

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.

 

CGCC, CWA, FTB, and Water.org Forge Strategic Partnership to Enhance Access to Formal Financing to Support Clean Water Sector in Cambodia

Posted on by Sorn Chhorvyvatey

On October 30, 2025, at the CGCC Head Office, there was a Signing Ceremony for a Portfolio Guarantee Agreement on Utilities Development Guarantee Scheme (UDGS) for Private Water Operators between CGCC and Foreign Trade Bank of Cambodia (FTB), a Memorandum of Understanding (MOU) between CGCC and Cambodian Water Supply Association (CWA), and a 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, and H.E Oum Sotha, Secretary of State, Ministry of Industry, Science, Technology, Innovation. Signatories included No Lida, CEO of CGCC; Dith Sochal, CEO of FTB; Lim Minh, Executive Director of CWA; and 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.

No Lida 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 honoured 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.

Dith Sochal emphasised 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 USD 19 million—including USD 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.

Lim Minh, Executive Director of CWA, added, “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.”

Gay Santos, Regional Director of Water.org., also stated, “Water.org began its work in Cambodia in 2022 and, through strong partnerships, has helped more than 2.19 million people and mobilised 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 favourable 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.

Credit to B2B, Published on 01 November 2025

 

SME Building Capacity & Capability (BCC) Programme Workshop of 2025 in Phnom Penh

Posted on by Sorn Chhorvyvatey

On 16 October 2025, Credit Guarantee Corporation of Cambodia (CGCC) and Maybank (Cambodia) collaborated for the 7th time to hold the SME Building Capacity & Capability (BCC) Programme Workshop on ‘’Building Cambodian Brands and Products’’, participated by 40 SME owners and financial advisors, as well as management and staff of the two institutions.

 

This program aims to provide practical tips and methods for building a trusted and competitive brand identity in both local and international markets. Additionally, it focuses on building capacity in key business operations, including management, market expansion, production, and cashflow management and financial reporting. 

Through BCC programme, SME participants received practical sharing session by distinguished speaker, Ms. Dav Zalynn, on topic ‘’Not just a Brand, but a Story: Building Identity in Cambodia’’ and H.E. Leang Leng, Chief Executive Officer of Leang Leng Sauce Co., Ltd., on the topic “Build Cambodian Quality and Safe Products.

  

In addition, Ms. Noun Sreyneang, Head of Performance Reporting and Balance Sheet, and Mr. Taing Hokleng, Head of Retail SME at Maybank Cambodia shared two insightful topics: “Bookkeeping and Financial Narratives” and “Financing Local Brands through Maybank’s SME Financial Solutions.” 

CGCC is proud to partner with Maybank in its mission to support the development of small and medium enterprises in Cambodia. As of the end of September 2025, CGCC and Maybank have provided more than USD 28 million in business loans through CGCC’s credit guarantees scheme. The first BCC programme of 2025 was held in Battambang province in August, aiming to provide practical insight to market readiness, and strategic business partnerships in an evolving trade landscape to rice exporters and rice millers from northwest Cambodia.

 

CGCC Joins the CamWater 2025’s Panel Discussion on Access to Finance for Water Operators

Posted on by Sorn Chhorvyvatey

On 14 October 2025, Ms. Pin Manika, Senior Manager of Marketing and Business Development Division of CGCC participated in the panel discussion as a panelist at the CamWater 2025 Expo held at Koh Pich Convention Center.

The session brought together leaders and professionals from the clean water and finance sectors to exchange ideas and explore practical solutions to improve access to finance for public water operators in Cambodia. 

Ms. Pin Manika also mentioned CGCC’s credit guarantee mechanism to facilitate financial institutions in issuing loans to public water operators to obtain additional financing to promote investment in the clean water sector in Cambodia.

 

CGCC Joins the Closing Ceremony of the Post-harvest Fisheries Development Project (CAPFISH-CAPTURE)

Posted on by Sorn Chhorvyvatey

On 13 October 2025, Ms. San Sokrina, Senior Manager of Product Development and Cooperation Division, representative of Mr. No Lida, CEO of CGCC had attended the closing ceremony of the Post-harvest Fisheries Development Project (CAPFISH-CAPTURE) organized by UNIDO under the high chairmanship of H.E. Dith Tina, Minister of Agriculture, Forestry and Fisheries, H.E. Igor DRIESMANS, Ambassador of the European Union to the Kingdom of Cambodia, and Mr. Dejene TEZERA, Director of UNIDO.

The CAPFISH CAPTURE project has actively contributed to the growth of the fisheries sector in Cambodia by promoting food safety, inclusive entrepreneurship and sustainable industrial development.

 

CAPFish-Capture End-Project Event Technical Workshop (Output 2) on Advancing Competitiveness for Better Fisheries Business Growth in Cambodia

Posted on by Sorn Chhorvyvatey

On 8 October 2025, Mr. No Lida, CEO of CGCC and Ms. San Sokrina, Senior Manager, Head of Product Development and Cooperation Division participated in The CAPFish-Capture End-Project Technical Workshop under the theme “Advancing Competitiveness for Better Fisheries Business Growth in Cambodia” organized by UNIDO in collaboration with the Fisheries Administration (FiA) and the European Union under the chairmanship of H.E. Has Sareth, Secretary of State of the Ministry of Agriculture, Forestry and Fisheries and attended by many policymakers, development partners and private sector representatives, with the aim of reviewing project achievements, sharing lessons learned and exploring strategies for sustainable private sector growth in Cambodia’s fisheries sector.

Mr. No Lida participated in the Panel Discussion 1 under the topic: “Value Chain and Blended Finance Support to Promote Competitiveness and Food Safety Compliance” alongside representatives from the Fisheries Administration, CGCC’s PFI, and international expert in private sector development which focuses on promoting value chain financing, food safety compliance, and competitiveness to strengthen market access for Cambodian fisheries products.

Ms. San Sokrina also participated in Panel Discussion 2 under the topic: “Business Development Service and Business Association Support for Inclusive and Sustainable Private Sector Development” focuses on understanding the importance of business plans for Cambodian fisheries enterprises in obtaining financing to support sustainable fisheries business development.

The workshop concluded with the recognition of key contributors and change leaders who have supported value chain improvements and inclusive business growth. Through their active participation in the discussions, CGCC reaffirmed its commitment to fostering innovation, partnership, and competitiveness in Cambodia’s fisheries value chain.