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Meet an Inspiring Woman Entrepreneur in the Rice Sector: Growing from Family Businesses to International Markets

Posted on by Sorn Chhorvyvatey

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 participated in the Membership Forum of Cambodian Women Entrepreneurship Association (CWEA)

Posted on by Sorn Chhorvyvatey

On 27 February 2026, Ms. Chun Sothany, Director of the Department of Strategy and Business Development of CGCC, and colleagues, participated in a membership forum organized by the Cambodian Women Entrepreneurs Association (CWEA) at the Women’s Economic and Entrepreneurship Development Center (WEDC).

 

Through this forum, Ms. Chun Sothany gave brief introduction of CGCC to all women entrepreneurs who participated in this forum to learn more about CGCC, especially the Women Entrepreneurs Guarantee Scheme (WEGS), a scheme to support women entrepreneurs in access to finance with favorable conditions.

 

 

This forum is designed to create a platform for all women entrepreneurs to access opportunity to meet, exchange ideas, promote their products or services, as well as promote the activities and benefits that all women entrepreneurs receive in joining the CWEA.

CGCC Marks Five Years as Government Launches New Individual Guarantee Plus Scheme

Posted on by Sorn Chhorvyvatey

Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance.

Cambodia Investment Review

Cambodia’s credit guarantee framework entered a new phase this week as the Credit Guarantee Corporation of Cambodia (CGCC) marked its fifth anniversary with the launch of a new guarantee scheme aimed at supporting priority sectors and expanding access to finance for businesses and individuals.

The anniversary event, held on January 27 at the Sun and Moon Riverside Hotel in Phnom Penh, was co-organized by the Ministry of Economy and Finance and Credit Guarantee Corporation of Cambodia under the theme “Five Years of Strategic Guarantees for Inclusive Economic Development.” The ceremony was presided over by Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance, and brought together around 150 participants from public institutions, development partners, banks, microfinance institutions, securities firms, and business associations.

Read More: Strengthening Access to Capital: ABA and CGCC Join Forces Through Credit Guarantee Schemes

Since its establishment, CGCC has played a growing role in Cambodia’s financial system, particularly during periods of economic stress. The anniversary served both as a stocktake of the institution’s performance over the past five years and as a platform to outline its next phase of policy support aligned with national development priorities.

A new guarantee scheme focused on priority sectors

A key highlight of the event was the official launch of “Individual Guarantee Plus,” a new CGCC scheme designed to support government strategies and priority sectors, including rice and cassava production, manufacturing, social housing development, and affordable housing.

Under the new scheme, borrowers will be able to submit an Expression of Interest directly to CGCC to obtain a credit guarantee of up to USD 10 million per loan. The facility is intended to support both working capital needs and business expansion, while allowing CGCC to jointly assess borrowers’ repayment capacity alongside participating financial institutions.

The new scheme builds on existing credit guarantee mechanisms but is structured to provide larger ticket sizes and more direct engagement with borrowers. Officials indicated that the initiative is expected to strengthen risk-sharing between lenders and the state while encouraging financial institutions to extend credit to sectors that are strategically important but often face financing constraints.

Recognizing financial institutions and enterprise beneficiaries

As part of the anniversary program, the Ministry of Economy and Finance presented Outstanding Awards to the top three participating financial institutions that disbursed the highest number of guaranteed accounts in 2025. The recipients were ABA Bank, Maybank, and Sathapana Bank, reflecting their active role in channeling guaranteed financing to businesses.

Awards were also presented to leading enterprise beneficiaries that made effective use of CGCC-backed loans. These included Sek Meas Ricemill, Bayon Heritage Holding Group Co., Ltd, and Samnang Dina Lumchang Water Supply, highlighting the range of sectors—from agriculture and processing to infrastructure and utilities—that have benefited from the guarantee framework.

In addition, Certificates of Appreciation were awarded to ten CGCC employees in recognition of long service, professionalism, and dedication to the development of the institution over its first five years of operation.

Credit guarantees as a policy tool

In his remarks, Aun Pornmoniroth described the establishment of CGCC as a strategic intervention by the Royal Government of Cambodia during the sixth legislature of the National Assembly. He pointed to the role of credit guarantees in supporting economic recovery and stability, particularly during the global COVID-19 crisis, while aligning with international best practices and Cambodia’s domestic socio-economic conditions.

According to the Ministry of Economy and Finance, credit guarantees have contributed to several key policy objectives, including expanding financial inclusion for small and medium-sized enterprises, strengthening private sector development through investment and job creation, and enhancing economic resilience by sharing risk during periods of external shock.

Five years of growth and expanding impact

CGCC operates as a state-owned enterprise under the financial and technical supervision of the Ministry of Economy and Finance, with a mandate to enhance access to finance and support inclusive economic growth.

Over its first five years, CGCC has rolled out seven individual guarantee schemes, 17 portfolio guarantee agreements, one bond guarantee agreement, and three wholesale guarantee agreements. It has also implemented the Entrepreneurship Program Initiative of CGCC (EPIC), aimed at supporting early-stage businesses and entrepreneurs.

As of December 31, 2025, CGCC had approved credit guarantees for 9,556 business loan accounts nationwide, with a total guaranteed value of USD 521.28 million. These figures underscore the institution’s expanding footprint in Cambodia’s financial sector and its role in supporting lending activity across a wide range of industries.

With the introduction of Individual Guarantee Plus, CGCC and the Ministry of Economy and Finance are signaling a continued emphasis on using credit guarantees as a targeted policy tool to support priority sectors, mobilize private financing, and sustain economic momentum in the years ahead.

Credit to: CAMBODIA INVESTMENT REVIEW  publish on

Signing Tripartite MoU between CGCC, SME Bank, and FASMEC on Cooperation to Provide Guaranteed Loan to FASMEC Members

Posted on by Sorn Chhorvyvatey

On 16 June 2025, at the office of Federation of Associations for Small and Medium Enterprise of Cambodia (FASMEC), a signing Tripartite Memorandum of Understanding (MOU) ceremony was held between Credit Guarantee Corporation of Cambodia (CGCC), Small and Medium Enterprise Bank of Cambodia (SME Bank), and Federation of Associations for SMEs of Cambodia (FASMEC). The ceremony was presided over by  Oknha Te Taing Por, the chairman of board director of FASMEC, Mr. No Lida, CEO of CGCC, Mr. Chea Sophak, CEO of SME bank, and was attended by the members of the Board of Directors of FASMEC, management, and staff of the three institutions, a total of approximately 30 people.

This MOU aims to promote the development of SMEs through CGCC’s guarantee on loans provided by SME Bank to FASMEC members. This collaboration will enhance access to essential financing for companies/businesses, particularly in the priority sector and members of FASMEC, by addressing collateral challenges. It also paves the way for collaborative efforts among three institutions to build SME capacity and improve financial literacy.

The signing ceremony concludes with a fruitful outcome that supports the SME ecosystem, aligning with the Royal Government’s Pentagon Strategy by providing opportunities to expand domestic production with improved quality, productivity, and global competitiveness.

GuarantCo, CGCC Sign FWA to Boost Financial Inclusion

Posted on by Sorn Chhorvyvatey

GuarantCo, part of the Private Infrastructure Development Group (PIDG), and the Credit Guarantee Corporation of Cambodia (CGCC) signed a Framework Agreement (FWA) to enhance domestic capital market financial inclusion through developing onshore guarantee capability.

This collaboration, part of the PIDG Credit Enhancement Facility (CEF) initiative, aims to develop onshore guarantee capabilities to foster financial inclusion and accelerate capital market growth, read a press release issued last Friday.

The agreement outlined a framework for counter- and co-guarantee support from GuarantCo and technical assistance from PIDG Technical Assistance to help boost CGCC’s capacity.

The FWA 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 FWA was signed alongside the first transaction between GuarantCo and CGCC, wherein GuarantCo provided a 10-year, $7 million portfolio guarantee to CGCC.

Marking GuarantCo’s fourth investment in Cambodia, the portfolio guarantee will allow CGCC to mobilize 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 nascence of green financing in the country.

The 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 FWA, with a particular focus on catalyzing sustainable infrastructure financing via the capital markets in Cambodia, said the statement.

The accompanying PIDG TA grant program will support CGCC in developing 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 that the signing of this FWA 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,” said Srishanker.

Chinmay Naralkar, Deputy CEO at GuarantCo, said GuarantCo is delighted to put into place this FWA with the Credit Guarantee Corporation of Cambodia while 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,” Naralkar said.

No Lida, CEO of the Credit Guarantee Corporation of Cambodia, said that 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,” he said.

Credit to: Khmer Times, Published on 20 January 2025

CGCC, GuarantCo Sign MoU to Promote Bond Market in Cambodia

Posted on by Sorn Chhorvyvatey

State-owned enterprise Credit Guarantee Corporation of Cambodia (CGCC) signed an MoU on Thursday with GuarantCo for a structured facility that enhances guarantee capacity in the bond market space.

Cambodia is unusual in that its bond market is larger than its equities market when in most countries it would be the other way around. The Cambodia Securities Exchange (CSX) has 23 listed companies – 11 offering their equity shares and 12 offering their bonds. But it’s the bond market that is set to see a boost as five more companies are expected to list, which would take the total number of listed bond players to 17 versus 11 equity players.

CGCC said it has a total guarantee capacity of $200 million. “CGCC had an unusual beginning in that it started right in the middle of Covid. We started guaranteeing loans to SMEs. Today we’ve guaranteed loans amounting to $164 million to 1,928 micro, small and medium enterprises (MSMEs) as we mark three years of operation. But our vision has expanded now and we’ve also set up a Sustainable Green Financing Facility and this bond guarantee scheme for which we hope we’ll have a valuable partner in GuarantCo,” said KL Wong, CEO, CGCC. He added that it would be reassuring to prospective bond investors that their partner GuarantCo is a Fitch “stable” and “AA” rated entity.

With the partnership, speakers at the events said that CGCC would get technical assistance from GuarantCo on navigating the bond issuances and the bond market. GuarantCo could potentially combine its resources with CGCC to enhance its combined bond guarantee capacity. Also present at the event were Hong Sok Hour, the Royal Government Delegate in Charge as CEO of Cambodia Securities Exchange (CSX) and Seang Thirith, Deputy Director General of Securities and Exchange Regulator of Cambodia (SERC).

“At GuarantCo we are keen on enabling sustainable infrastructure in Africa and Asia. So far we’ve encouraged infrastructure development in low-income countries through the provision of credit guarantees that enable infrastructure projects,” said Nishant Kumar, Managing Director (Asia) of GuarantCo, part of the Private Infrastructure Development Group (PIDG).

“And in many countries we work like Nigeria and Pakistan we’ve had to set up a credit guarantee facility from scratch. But, Cambodia already has a credit guarantor in CGCC. An extremely innovative approach by the government that I’m not sure I’ve seen replicated anywhere else in this region,” said Denesh Srishanker, Credit Enhancement Facility Director, PIDG. “We’re more keen on local solutions to help local markets. And we do want to close the infrastructure funding gap in countries like Cambodia,” he added.

Innovation in funding is something the UK Government is keen on, said Dominic Williams, British Ambassador to Cambodia, while citing Britain’s role as Cambodia’s long-term development partner. “Cambodia has traditionally had a model of relying on the government budget and its external/international development partners. But, guaranteeing bonds for investor confidence could ensure the country gets other sources of funding too for its critical infrastructure projects,” said Williams.

GuarantCo Managing Director Kumar also talked about other projects they have done in the country, including providing a $70 million bond guarantee to CamGSM (popularly known as Cellcard) to finance its telecom infrastructure; its $24 million bond guarantee to Royal Railway Cambodia to invest in the national railway system; and $7 million in debt financing to MFI First Finance for building affordable housing for low-and-middle income groups in Cambodia.

“We are keen on credit enhancement, providing technical assistance to CGCC and creating viable opportunities for private investors in frontier markets,” said Philippe Valahu, CEO, PIDG.

On the timeframe of execution, CGCC CEO Wong said that they (CGCC and GuarantCo) are hoping to do their first combined bond guarantee this year. “On tax incentives, we are not the authority to comment. But I can tell you that we have approached the General Department of Taxation (GDT) and made a representation asking if it would be possible for the government to give some sort of tax incentives for bond investors and those keen on green financing,” said Wong.

Credit to: Khmer  Times, Publish on 02 August 2024

CGCC Participating in the 47th Association of Development Financing Institutions in Asia and the Pacific (ADFIAP)

Posted on by Sorn Chhorvyvatey

Mr. Wong Keet Loong, CEO of CGCC, led the CGCC’s team to participate in the 47th ADFIAP Annual Meeting from 15 to 17 May 2024, at Sofitel Phnom Penh, hosted by the Agricultural and Rural Development Bank (ARDB) of Cambodia.

The 47th ADFIAP Annual Meetings is attended by more than 400 participants from more than 40 countries who are ADFIAP members, representatives from developing partners, representatives from the private sector, and other relevant stakeholders to share experiences from the countries in the Asia Pacific under the topic “DFIs’ Role in Sustainable Finance Ecosystem: Cultivating a climate-smart and sustainable future”. CGCC also submitted an application to be a member of ADFIAP through this annual meeting as well.

 

$30M Credit Guarantee Scheme for Rice Inked

Posted on by Sorn Chhorvyvatey

The state-owned Credit Guarantee Corporation of Cambodia (CGCC), Cambodia Rice Federation (CRF) and participating financial institutions (PFIs) signed an agreement on the $30 million Rice Export Guarantee Scheme (REGS) to help millers stockpile rice for milling, processing, exporting and making local value-added products.

The signing ceremony was held last Friday in the presence of Ros Seilava, Secretary of State of the Ministry of Economy and Finance, the Board of Directors of the CGCC and the management and members of CRF, PFIs and CGCC.

The official cooperation by the three parties on REGS is aimed at increasing the productivity and competitiveness of Cambodia’s rice industry and boosting rice exports in line with the Royal Government of Cambodia’s policy on agriculture.

CGCC launched REGS as a portfolio guarantee scheme, having seven financial institutions participating including AMK Microfinance Institution, Canadia Bank, Foreign Trade Bank of Cambodia (FTB), Maybank (Cambodia), Prince Bank, Sathapana Bank, and Wing Bank (Cambodia).

The scheme will address the financing needs of rice exporters and millers having no collateral to avail of loans from financial institutions, especially during the harvest season.

At the ceremony, Ros Seilava said that the launch of the project is a reflection of the government’s strong commitment to support Cambodian rice production and rice exports through the public credit guarantee scheme, of which CGCC is the operator, by providing guarantee coverage of 80 percent with a maximum loan of up to $3 million.

“The REGS will support the financing needs of rice exporters and rice millers to purchase paddy from farmers to produce rice for exports in line with the government’s policy to increase rice production and exports,” he said.

Chan Sokheang, President of CRF said the rice credit guarantee package will help millers expand their businesses and use the by-products to other sectors such as aquaculture and livestock farming.

“The guarantee package is also an additional incentive for expanding exports to one million tonne per year as set by the rice production policy of the Royal Government, and we believe that this plan will be achieved by 2025,” he added.

Wong Keet Loong, CEO of CGCC, said that the scheme comes with special features – lower guarantee fees, higher guarantee covers and loan interest rate not exceeding 11 percent a year.

“We are supporting the aspirations of the government to export one million tonne of rice by 2025. This is our first tranche for the scheme and we can increase the scheme size if there is higher demand,” Wang said.

Cambodia exported more than 248,000 tonnes of milled rice in the first four months of 2024, earning a total revenue of $170 million, a CRF report showed.

The exported rice varieties included fragrant rice, white rice, parboiled rice and organic rice, among others.

Credit to: Khmer Times, Published on 13 May 2024

Rice Credit Guarantee Scheme Inked to Boost Rice Productivity and Export

Posted on by Sorn Chhorvyvatey

The state-owned Credit Guarantee Corporation of Cambodia (CGCC), Cambodia Rice Federation (CRF), and Participating Financial Institutions (PFIs) signed an agreement on the Rice Export Guarantee Scheme (REGS), which helps millers expand their scope to stockpile rice for milling, processing, exporting, and increasing local value-added products.

The signing ceremony was held on May 10 under the presidency of Ros Seilava, Secretary of State at the Ministry of Economy and Finance, with the participation of more than 70 people who are members of the CGCC Board of Directors, the management and members of CRF, the management and staff of PFIs, and CGCC.

The ceremony was held to seal the official cooperation between CGCC, CRF, and PFIs on the Rice Export Guarantee Scheme (REGS). The scheme aims to increase the productivity and competitiveness of Cambodia’s rice industry and boost rice exports in line with the Royal Government of Cambodia’s policy on agriculture.

CGCC launched the $30 million REGS as a portfolio guarantee scheme, with seven financial institutions participating, including AMK Microfinance Institution, Canadia Bank, Foreign Trade Bank of Cambodia (FTB), Maybank (Cambodia), Prince Bank, Sathapana Bank, and Wing Bank (Cambodia).

Speaking at the ceremony, Ros Seilava said that the launch of the $30 million REGS project reflects the Royal Government’s strong commitment to supporting Cambodian rice production and exports through the public credit guarantee scheme, of which CGCC is the operator. The scheme provides guarantee coverage of 80 percent on the maximum loan of up to $3 million.

“The REGS will support the financing need of rice exporters and rice millers to purchase paddy from farmers to produce rice for exports in line with the Royal Government of Cambodia’s policy to increase rice production and exports,” he said.

Chan Sokheang, President of CRF said the rice credit guarantee package will help millers expand their scope to stockpile rice for milling, processing, exporting, and increasing local value-added products derived from its by-products milling all rice to other sectors such as aquaculture, livestock farming.

According to Wong Keet Loong, CEO of CGCC, the scheme comes with special features – lower guarantee fees, higher guarantee covers and loan interest rate not exceeding 11 percent p.a.

“We are supporting the aspirations of the Royal Government of Cambodia to export 1 million tonnes of rice by 2025,” Wang said.

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. AKP

Credit to: Khmer Times, Published on 11 May 2024