The Credit Guarantee Corporation of Cambodia (CGCC) and Kasikornbank Public Co Ltd’s (KBank) Phnom Penh branch have formalised a credit guarantee agreement. This move aims to enhance confidence and extend guaranteed financing to business proprietors, particularly micro, small and medium-sized enterprises (MSME).
Among those present at the signing ceremony at the CGCC headquarters in Phnom Penh were Ros Seileva, chairman of the CGCC and secretary of state for the Ministry of Economy and Finance, Thai ambassador Cherdkiat Atthakor and KBank Thailand executive vice-president Suwat Techawatanawana.
Wong Keet Loong, the CEO of CGCC, expressed his enthusiasm about the partnership.
“We’re honoured to collaborate with a top-tier bank to provide credit guarantees to bolster MSME financing in Cambodia,” he stated.
He highlighted the extensive experience of the Thai banking sector in guaranteed loans and hoped this would translate to more financing opportunities for Cambodian businesses.
“This partnership paves the way for cross-border guarantees between Thai and Cambodian enterprises. We’re looking to collaborate and learn from the Thai Credit Guarantee Corp, seasoned with over 30 years of expertise, later this year,” Loong added.
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Author: Hin Pisei
Publication date: 02 October 2023
Source: The Phnom Penh Post