News

Microfinance formed over 30% of Cambodia’s 2022 GDP

Microfinance has grown exponentially in Cambodia and is not as stressed as reported by the international media, according to a study by research firm M-CRIL in partnership with the Cambodia Microfinance Association (CMA). A sector which had only 50,000 clients in 1995, now services 2.1 ...

Rachel.David
https://www.khmertimeskh.com/501429233/microfinance-formed-over-30-of-cambodias-2022-gdp/

42% of loans taken in capital; women outnumber men in provinces

As much as 42 percent of the loans disbursed by banks and commercial banks in Cambodia has been taken by residents living in its capital Phnom Penh while women borrowers outnumber men in most of the provinces. ...

Manoj Mathew
https://www.khmertimeskh.com/501266501/42-of-loans-taken-in-capital-women-outnumber-men-in-provinces/

SME Bank loans top $410M, help over 3K businesses

The state-owned Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) has disbursed some $418 million in loans to at least 3,185 small- and medium-sized enterprises (SME) since its foundation, as of October 31, to keep them from going under during the height of ...

May Kunmakara
https://www.phnompenhpost.com/business/sme-bank-loans-top-410m-help-over-3k-businesses

Seven more financial institutions join CGCC

Seven financial institutions (FI) on June 29 signed a credit guarantee agreement with government-owned Credit Guarantee Corporation of Cambodia (CGCC) to provide more business loans in an effort to contribute to economic activities amid the ongoing Covid-19 health crisis. ...

May Kunmakara
https://www.phnompenhpost.com/business/seven-more-financial-institutions-join-cgcc

Banks, MDIs urged to provide loans

The National Bank of Cambodia (NBC) has encouraged banks and money-deposit taking institution (MDIs) to continue disbursing loans and possibly suspend interest for businesses impacted by the Covid-19 outbreak, especially in the tourism industry. ...

May Kunmakara
https://www.phnompenhpost.com/business/banks-mdis-urged-provide-loans

New fund set to enhance SMEs’ access to finance

The government is allocating $50 million to support small and medium-sized enterprises (SMEs) in the agricultural sector. The funds can be accessed in the form of low-interest loans through the state-owned Rural Development Bank (RDB). ...

Thou Vireak
https://www.phnompenhpost.com/business/kingdom-china-fta-expected-november

Report: 28.1% of Cambodians take out loans for healthcare

A new report has found that 28.1 per cent of Cambodians borrow money to pay for healthcare, with microfinance insiders claiming it does not reflect the reality in the financial sector. The University of New South Wales (UNSW) surveyed 5,000 households across Cambodia and found ...

Thou Vireak
https://www.phnompenhpost.com/business/report-281-cambodians-take-out-loans-healthcare

RDB to request an extra $50 million to beef up agriculture emergency fund

The Rural Development Bank (RDB), a state-own institution, plans to request an additional $50 million to beef up the government-led emergency fund for the agriculture sector, according to a bank representative. ...

Sok Chan
https://www.khmertimeskh.com/50523714/rdb-to-request-an-extra-50-million-to-beef-up-agriculture-emergency-fund/

Cambodia, Sri Lanka and the China debt trap

The influx of Chinese economic assistance into Sri Lanka and Cambodia has raised questions regarding the intentions behind these massive loans. A 2016 International Monetary Fund report showed that Cambodia’s external multilateral public debt is now at US$1.6 billion, while its bilateral public debt with ...

Veasna Var and Sovinda Po
http://www.atimes.com/article/cambodia-sri-lanka-china-debt-trap/

Bank trims rate to coax millers

The state-owned bank entrusted with extending $27 million in emergency loans to millers to purchase rice paddy has marginally lowered the interest rate on these conditional loans in an effort to shorten some of the strings attached. The Rural Development Bank (RDB) announced late on Sunday ...

Hor Kimsay
http://www.phnompenhpost.com/business/bank-trims-rate-coax-millers

Cambodia’s Hun Sen Slams U.S. Threats Over Aid

Cambodian Prime Minister Hun Sen on Friday criticized U.S. threats to cut aid to the impoverished Southeast Asian nation if its election wasn’t free and fair, and dared American lawmakers to follow through on their warning. His comments came after U.S. lawmakers started processes in the ...

http://stream.wsj.com/story/latest-headlines/SS-2-63399/SS-2-293500/

Revenues up at mail service, but not locally

Revenue at the Cambodia Post (CP), the country’s mail service provider, rose nearly $2 million in the first half of this year, a 10 per cent increase compared to the same period in 2012. But the service still handles mostly international shipments, and is failing ...

http://www.phnompenhpost.com/business/revenues-mail-service-not-locally

MFI loans, deposits continue to increase

Both outstanding loans and savings deposits in 35 microfinance institutions (MFIs) continued to grow from January through to June this year, according to the latest report from the Cambodia Microfinance Association (CMA). By the end of the first half of this year, total loans from MFIs ...

http://www.phnompenhpost.com/business/mfi-loans-deposits-continue-increase

IPU Finds Assembly Has Little Loans Oversight

Cambodia’s National Assembly is lacking, compared to other countries’ parliaments, in the oversight it exercises over new loans taken out by the government from international financial institutions, according to a new report. The study, published Tuesday by Geneva-based Inter-Parliamentary Union (IPU) and the World Bank, found ...

http://www.cambodiadaily.com/business/ipu-finds-assembly-has-little-loans-oversight-36432/

Deposits and loans increase

Deposit and loans at major commercial banks have continued to climb over the first half of this year, industry officials say. Grant Knuckey, chief executive officer of ANZ Royal Bank, said yesterday that ANZ continues to see strong growth in trade finance led by the agricultural ...

http://www.phnompenhpost.com/business/deposits-and-loans-increase

Largest MFI Prasac gets loan boost for coffers

Cambodia’s largest microfinance institution, (MFI) Prasac, has received a $60.5 million loan to strengthen its capacity in offering broader financial services in the country. On Friday, Prasac signed the agreement for the syndicate loan – provided by more than one lender – with the Netherlands Development ...

http://www.phnompenhpost.com/2013070166577/Business/largest-mfi-prasac-gets-loan-boost-for-coffers.html

ADB to loan $55 million to Cambodia's rice sector

The Asian Development Bank (ADB) has approved a loan of $55 million to help transform the rice sector of Cambodia into a viable commercial industry as well as taking care of the land and water resources. ADB’s Climate-Resilient Rice Commercialization Sector Development Program―which will run ...

http://www.thecambodiaherald.com/cambodia/detail/1?page=15&token=ZjI4NDZjMzFlMmE

AEON widens HP to farmers

AEON Microfinance (Cambodia) Co Ltd says it has expanded its installment payment services into the agricultural sector, a new business type industry insiders say could be successful, but will still not be enough to strengthen one of Cambodia’s most crucial economic sectors. “We will co-operate with ...

http://www.phnompenhpost.com/2013052365789/Business/aeon-widens-hp-to-farmers.html

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