Cambodia aids Covid-hit firms after helping poor

The Cambodian government has announced its first business enhancement scheme with an initial tranche of US$200 million, following on from unprecedented cash payments made to the poor as part of an economic stimulus package to combat the impact of the Covid-19 pandemic.

Under the Business Recovery Guarantee Scheme (BRGS), the Ministry of Economy and Finance said the first tranche would enable business owners to borrow from a list of approved banks including ACLEDA Bank, Asia Pacific Development Bank, Cambodia Post Bank, Canadia Bank, Phillip Bank and Prince Bank.

“The BRGS aims to support businesses including micro, small and medium enterprises and large firms to enhance their access to formal loans from participating financial institutions for working capital, investment and business expansion,” the ministry said in a statement.

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