Cambodia launches 50-mln-USD guarantee scheme to support SMEs

State-owned Credit Guarantee Corporation of Cambodia (CGCC) on Wednesday launched a 50-million-U.S. dollar Co-Financing Guarantee Scheme (CFGS), aiming at supporting small and medium enterprises (SMEs).

The CFGS is a guarantee scheme that will act as collateral or security for 70-80 percent of the loan amount so that it will reduce the physical collateral required from the borrowers, a CGCC’s press statement said.

The scheme will support the growth of new loans in the banking sector to enable SME owners to borrow from the CGCC’s Participating Financial Institutions (PFIs), the statement said, adding that 19 PFIs will be able to offer higher loan amounts and the risk exposure will be shared with the CGCC up to 80 percent.

In full: http://www.xinhuanet.com/english/asiapacific/2021-09/22/c_1310202917.htm

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