AKP Phnom Penh, January 24, 2025 --

The Cambodia Microfinance Association (CMA) and the Credit Guarantee Corporation of Cambodia (CGCC) have officially signed a Memorandum of Understanding (MoU) to collaborate on promoting sustainable financial inclusion across Cambodia.

This official partnership was announced during the CGCC Annual Seminar on “Innovation of Credit Guarantee to Promote Green Financing” held here on Jan. 23 under the presidency of H.E. Ros Seilava, Secretary of State at the Ministry of Economy and Finance, and Chairman of CGCC.

According to a joint press release AKP received this morning, this strategic partnership aims to foster the growth of banking and financial institutions (BFIs) and support micro, small, and medium enterprises (MSMEs) through capacity development, digital financial services, and enhanced financial literacy.

Under the MoU, CMA and CGCC will work together to strengthen and develop the capacity of MSMEs, BFIs and stakeholders through trainings, workshops, and seminars, and research studies.

This partnership will also focus on advancing financial literacy and digital finance and promoting the development of green finance in Cambodia. Both organisations are committed to leveraging their resources to ensure the successful implementation of various initiatives aimed at boosting the financial sector's contribution to the country's economic development.

This partnership marks a significant step toward advancing financial inclusion in Cambodia, said Oknha Hout Ieng Tong, CMA representative.

“By combining our expertise and resources, we can create a more robust financial ecosystem that supports the growth of MSMEs and contributes to the country's sustainable development," he said.

Mr. No Lida, Chief Executive Officer of CGCC, said that there are opportunities for CGCC and CMA, as well as CMA’s members, to utilise credit guarantees to increase necessary lending to underserved businesses across the country.

“This MoU is a testament to our shared commitment to fostering economic growth and sustainability in Cambodia,” he said.

The MoU is effective for three years from the date of signing and outlines a framework for mutual cooperation in achieving the shared objectives.

Both parties are dedicated to ensuring the confidentiality of shared information and the successful execution of agreed initiatives.

By Chea Vannak