World Bank to vote on ending punitive 5-year funding freeze
The World Bank’s board of directors could vote today to renew a project for landless families in Cambodia that has run into major problems, a move that would effectively lift a five-year freeze on lending its own money to the country in protest over forced ...
Zsombor Peter
https://www.cambodiadaily.com/news/world-bank-to-vote-on-ending-punitive-5-year-funding-freeze-112778/
Cambodia and World Bank expand development engagement to reduce poverty and share prosperity
The government of Cambodia and the World Bank today signed agreements for four projects to improve road surfaces, manage fisheries, improve livelihoods from agriculture in targeted rural communities, and increase access to health care, with funding from the International Development Association, or IDA, the World ...
Bou Saroeun
http://www.worldbank.org/en/news/press-release/2016/06/09/cambodia-and-world-bank-expand-development-engagement
Rice millers can now get $20 mil
Rice millers in the country will now be able to access the government’s promised emergency loan of $20 million to purchase paddy rice from farmers in a bid to prevent rice prices from falling further, the Rural Development Bank (RDB) announced yesterday. Rural Development Bank CEO ...
Sok Chan
http://www.khmertimeskh.com/news/29939/rice-millers--can-now--get--20-mil/
Aeonts wins Cambodia licence
The Cambodian hire-purchase subsidiary of Aeon Thana Sinsap (Thailand) or Aeonts has become the first Japanese financial firm to receive a specialised bank licence to do credit-card business in the neighbouring country, according to a statment to the Stock Exchange of Thailand Aeon Microfinance (Cambodia), ...
Darana Chudasri
http://www.bangkokpost.com/news/asean/756956/aeon-wins-cambodia-licence
Low uptake of gov’t rice fund
The government’s much-heralded $27 million emergency rice fund, announced last month amid complaints from rice farmers and millers that cheap competition and low-storage capacity was driving down prices, has so far had only limited takers among rice millers. ...
Sok Chan
http://www.khmertimeskh.com/news/31195/low-uptake-of-gov---t-rice-fund/
World Bank loan of $100 million angers Boeng Kak activists
Boeng Kak supporters on Tuesday said they were dismayed at the World Bank’s announcement of a new $100 million loan to the Cambodian government amid ongoing harassment and jailings of land rights activists. ...
Brendan O’byrne and Sek Odom
https://www.cambodiadaily.com/news/world-bank-loan-of-100-million-angers-boeng-kak-activists-128160/
Nontariff barriers continue to hinder regional trade
While tariffs across the Asia-Pacific region have dropped over the last 20 years as a result of bilateral and multilateral trade agreements, nontariff barriers such as red tape and quotas continue to hinder the economic growth of Cambodia and other countries in the region, the ...
Kali Kotoski
http://www.phnompenhpost.com/business/nontariff-barriers-continue-hinder-regional-trade
Kingdom’s prospects for fintech discussed
While financial technology, or fintech, has made little traction so far in Cambodia, panellists at a conference in Phnom Penh on Friday expressed confidence that the sector was poised for rapid growth. ...
Robin Spiess
http://www.phnompenhpost.com/business/kingdoms-prospects-fintech-discussed
World Bank subsidiary to train 2,000 contract rice farmers
A World Bank subsidiary will soon start training 2,000 farmers contracted to supply a leading Cambodian rice exporter on how to meet an international farming standard. ...
Hang Sokunthea
https://www.cambodiadaily.com/news/world-bank-subsidiary-to-train-2000-contract-rice-farmers-131561/
Election to have little impact on banks: MSP
Next year’s national election is unlikely to slow the rapid pace of bank lending growth but could put a temporary crimp in deposits, though the sector is expected to have sufficient liquidity to absorb the impact, according to a report released yesterday. ...
Post Staff
http://www.phnompenhpost.com/business/election-have-little-impact-banks-msp
Tax pulled after mutiny
Just one day after the Kingdom’s microlenders mutinied and said they would not implement a government directive requiring all financial institutions to implement a 10 percent value-added tax (VAT) on fees for financial services, the Tax Department announced it would back down and temporarily suspend ...
Kali Kotoski and Hor Kimsay
http://www.phnompenhpost.com/business/tax-pulled-after-mutiny
ADB plan aims for synergy in agro sector
The Asian Development Bank (ADB) is close to finalising its five-year action plan for 2018 to 2022 that promotes agricultural-based value chains across the Greater Mekong Subregion (GMS), an area that includes Cambodia, Laos, Vietnam, Thailand, Myanmar and the southern Chinese province of Yunnan, the ...
Kali Kotoski
http://www.phnompenhpost.com/business/adb-plan-aims-synergy-agro-sector
ADB offers $70M loan to improve transportation
The Asian Development Bank (ADB) has approved a $70 million loan to develop the Kingdom’s transportation infrastructure with the majority of the funding going towards improvements of national roads in Prey Veng, Siem Reap and Svay Rieng provinces. ...
Kali Kotoski
http://www.phnompenhpost.com/business/adb-offers-70m-loan-improve-transportation
World Bank: Real-estate boom could backfire on economy
The World Bank has warned that the significant growth recorded in the construction and real-estate sector, considered one of the country’s economic pillars, could ultimately affect overall growth due to a trinity of unanticipated and now negative factors. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50712701/world-bank-real-estate-boom-could-backfire-on-economy/
Public services get $7.67 million boost through World Bank grant
The World Bank has approved two complementary grants totalling $7.67 million to support social accountability in key public services such as health centres, primary schools, and local administrations in 10 provinces in Cambodia. ...
Long Kimmarita
https://www.phnompenhpost.com/national/public-services-get-767-million-boost-through-world-bank-grant
Real estate boosted last year but likely to suffer this year
The inflow of foreign direct investment (FDI) into the real estate sector in Cambodia was estimated at more than $437.3 million in 2019, according to data from the just-issued National Bank of Cambodia’s (NBC) Annual Banking Supervision Report 2019. ...
Sok Chan
https://www.khmertimeskh.com/50718100/real-estate-boosted-last-year-but-likely-to-suffer-this-year/
ADB approves loans worth $70 million for Cambodia’s agriculture
The Asian Development Bank (ADB) has approved a $70 million in loan to improve the capacity of agribusinesses in six provinces across Cambodia to process key agricultural products. ...
Khmer Times Staff
https://www.khmertimeskh.com/50789891/adb-approves-loans-worth-70-million-for-cambodias-agricultur/
Storefront solution goes live
Kuala Lumpur-based Apigate Sdn Bhd has successfully rolled out its Storefront solution with Cambodia’s leading mobile telecommunications operator Smart Axiata Co Ltd, Apigate said in a press release on January 27. ...
Thou Vireak
https://www.phnompenhpost.com/business/storefront-solution-goes-live
Microfinance body calls for more lending
Cambodia Microfinance Association (CMA) on April 27 urged its members to release more credit to customers as the spread of Covid-19, exacerbated by the February 20 community transmission is having a huge impact on all businesses, especially in Phnom Penh and Takmao town. ...
Hin Pisei
https://www.phnompenhpost.com/business/microfinance-body-calls-more-lending
FDI inflows drop 1% to $3.5B
The value of foreign direct investment (FDI) into the Kingdom registered a slight fall in 2020 amid a much sharper contraction among non-banking sectors and uncertainty over the evolution of the Covid-19 pandemic, but inflows into the financial sector remained strong. ...
May Kunmakara
https://www.phnompenhpost.com/business/fdi-inflows-drop-1-35b