Chinese bank launches branch in Phnom Penh

1 December 2011
The Cambodia Daily
Agriculture and fishing / Banking and financial services / Crop products and commodities / Economy and commerce / Exports / Phnom Penh / Rice / Trade
agriculture sector / banking / borrowing / Chinese aid / Credit / Farmers / finance / Funding / Industrial and Commercial Bank of China / international relations / Lending / loans / milled rice exports

The Industrial and Commercial Bank of China (ICBC) launched its first branch in Cambodia yesterday, bringing the total number of commercial banks in the country to 30. Speaking at the inauguration of the branch in Phnom Penh, Finance Minister Keat Chhon made an appeal to ICBC to start lending more to Cambodia’s agricultural sector, which is in need of more funding to meet a 2015 target of exporting 1 million tons of milled rice…