ADB’s assistance to Cambodia nears 2.9 bln
The Asian Development Bank (ADB) has committed over $2.8 billion in lending, grants, and technical assistance to Cambodia since 1966, making it the country’s largest multilateral development partner. The development Bank issued a report yesterday that puts its total contribution to Cambodia at $2.86 billion over ...
Sum Manet
https://www.khmertimeskh.com/50479970/adbs-assistance-to-cambodia-nears-2-9-bln/
Press release on the prohibition of taking identity card, family record, and residence record as guarantee for provision of credit
On 17 July 2018, the National Bank of Cambodia issued a press release on the prohibition of taking identity card, family record, and residence record as guarantee for provision of credit, following the directive No. B7-016-210 Sor. Chor. Nor, dated 11th March 2016. However, the ...
National Bank of Cambodia
Cambodia can achieve SDGs, but deep fiscal reform needed: ADB report
Cambodia has a good chance of achieving its social protection agenda under the Sustainable Development Goals (SDGs) but will need to balance different social protection investments, according to a report published on Wednesday by the Asian Development Bank (ADB). With the right fiscal reforms and policies ...
Economic outlook positive, ease of doing business still lagging: ADB
Cambodia’s economic outlook remains positive and the economy is forecast to grow at a robust 7 percent this year and next year, according to a report released by the Asian Development Bank (ADB) on Wednesday. Growth in exports, strong foreign direct investment, growing tourist arrivals ...
Hor Kimsay
https://www.phnompenhpost.com/business/economic-outlook-positive-ease-doing-business-still-lagging-adb
Kampot seaport to become ‘main gateway’ to region
With a quarter of construction work already completed, the new port in Kampot province will become the country’s main gateway to tourism destinations in the region, the minister of tourism said. The seaport, which is being builtin Tek Chhou district, will be ableto accommodate one ...
Sum Manet
https://www.khmertimeskh.com/50586568/kampot-seaport-to-become-main-gateway-to-region/
NGOs invited to discuss MFI report
Officials of NGOs Licadho and Sahmakum Teang Tnaut will attend a closed-door meeting at the Council of Ministers on Wednesday to explain the findings of their recent report claiming that increasing levels of debt at microfinance institutions (MFIs) has resulted in human rights violations. ...
Khorn Savi
https://www.phnompenhpost.com/national/ngos-invited-discuss-mfi-report
Cambodia’s ranking in World Bank index drops once again
The latest release of the World Bank’s ease of doing business index puts Cambodia in the 144th spot out of 190 countries, a drop of six places from a year ago. The 2019 ease of doing business index ranked the Kingdom 138th out of 190 ...
ADB says Cambodia to grow at 7% in 2018, 2019
The Asian Development Bank (ADB) forecasts that Cambodia’s gross domestic product (GDP) will grow by 7 percent in 2018 and 2019, backed by strong export growth, robust tourist arrivals, buoyant domestic demand, and an expansionary fiscal policy. ...
May Kunmakara
https://www.khmertimeskh.com/50536840/adb-says-cambodia-to-grow-at-7-in-2018-2019/
ADB set to provide $1.45B to aid growth
The Asian Development Bank (ADB) has announced that it will provide $1.45 billion to support a new five-year country partnership strategy (CPS) and help the Kingdom achieve its goal of becoming an upper-middle-income country by 2030, it said on Friday. ...
Thou Vireak
https://www.phnompenhpost.com/business/adb-set-provide-145b-aid-growth
Prime Road Alternative wins rights to 60MW solar farm
Prime Road Alternative Company Limited won construction rights to a 60MW solar farm project at an auction, according to the Asian Development Bank (ADB). An ADB press release released last week shows that the auction, which was conducted by Electricite du Cambodge (EdC), ended with ...
Thou Vireak
https://www.phnompenhpost.com/business/prime-road-alternative-wins-rights-60mw-solar-farm
Local startup earns spot in fintech ranking
Cambodia was this month recognised for the first time in the 2019 Fintech100 – a collaborative effort between H2 Ventures and KPMG that analyses the fintech space globally. ...
Gerald Flynn
https://www.khmertimeskh.com/50661022/local-startup-earns-spot-in-fintech-ranking/
MFI employee jailed for embezzling $300,000
A former employee of a microfinance institution (MFI) was Tuesday jailed on charges of embezzling some $300,000 from the company, a court official said. ...
Kang Sothear
https://www.cambodiadaily.com/news/mfi-employee-jailed-for-embezzling-300000-109664/
Banks covering their assets
Cambodian financial institutions surveyed yesterday said they were in compliance with the central bank’s revised liquidity coverage ratio (LCR) requirements as the deadline passed to increase their cash and highly liquid assets to weather any internal or external shocks. ...
Kali Kotoski
http://www.phnompenhpost.com/business/banks-covering-their-assets
MFI employee jailed for embezzling $300,000
A former employee of a microfinance institution (MFI) was Tuesday jailed on charges of embezzling some $300,000 from the company, a court official said. ...
Kang Sothear
https://www.cambodiadaily.com/news/mfi-employee-jailed-for-embezzling-300000-109664/
Expanding trade and tourism
Over the last few years the Director of the Statistics Department at the National Bank of Cambodia began observing an unanticipated development while conducting field observation studies of trade at border crossings – the riel is being accepted for purchases in neighbouring counties. ...
Riel Gains
http://www.khmertimeskh.com/news/36315/expanding-trade-and-tourism/
Will move to cap microfinance interest rates backfire on CPP?
The ruling CPP doubled down on Tuesday on its decision to cap interest rates on microfinance loans as a way to help the poor get out of debt, even as analysts called it a political move that would have long-term negative effects on the rural ...
Hang Sokunthea and Matt Surrusco
https://www.cambodiadaily.com/news/will-move-to-cap-microfinance-interest-rates-backfire-on-cpp-126564/
China’s squeeze on capital outflow felt in Cambodia
Stringent capital controls imposed by China’s central bank last November that scrutinise the outbound flow of money from the mainland have created uncertainty for Chinese investors looking at the Cambodian market and could jeopardise future and existing projects. ...
Kali Kotoski and Brian Ng
http://www.phnompenhpost.com/business/chinas-squeeze-capital-outflow-felt-cambodia
ADB stays hopeful on forecast for Kingdom
The Asian Development Bank (ADB) maintained its economic growth forecast for Cambodia at 7.1 percent for 2017 and 2018 buoyed by the strong performance of developing economies across Asia and the ongoing recovery of large industrial countries, according to a release yesterday. ...
Kali Kotoski
http://www.phnompenhpost.com/business/adb-stays-hopeful-forecast-kingdom
Business Insider: Boosting inclusion for online payment at Pi Pay
While Cambodia remains a largely cash-based society, the market for financial technology has begun to expand through online payment services and mobile e-wallets like Pi Pay. The Post’s Robin Spiess sat down with Pi Pay CEO Tomas Pokorny to discuss the future of economic digitisation in the Kingdom. ...
Robin Spiess
http://www.phnompenhpost.com/business/business-insider-boosting-inclusion-online-payment-pi-pay
Inflation in 2017 low and ‘manageable’
Inflation in Cambodia last year reached 2.9 percent due to a moderate increase in the price of key commodities, particularly petroleum and agricultural goods, with the National Bank of Cambodia (NBC) saying the low inflation rate was a product of sound macroeconomic management. ...
May Kunmakara
http://www.khmertimeskh.com/50100904/inflation-2017-low-manageable/