The Asian Development Bank (ADB) has been supporting the growth of the micro, small and medium-sized enterprises (MSMEs) sector in Cambodia through a $10 million loan to the Cambodian Post Bank. The Cambodian Post Bank then continues to provide loans to clients for use in the MSME sector, especially women entrepreneurs.
Ms. Jyotsana Varma, Country Director of the Asian Development Bank (ADB) in Cambodia, on the evening of December 9, 2024, led an ADB team and a group of journalists to visit the salt-making business of Ms. Hong Srey Mom, which received a loan from the Cambodian Post Bank.
On the occasion, Ms. Jyotsana Varma said that on behalf of the Asian Development Bank, she is very happy when project beneficiaries like Ms. Hong Sreymom use the bank’s loan effectively. Ms. Jyotsana Varma is optimistic that the ADB project can expand female entrepreneurship among other women in Cambodia, which is in line with the Royal Government’s commitment to promoting female entrepreneurship in the MSME sector.
Ms. Hong Sreymom, a salt farm owner in Teuk Chhou District, Kampot Province, said that she used the loan from the Cambodian Post Bank to expand her salt farm and set up a warehouse to store salt. She also encouraged female entrepreneurs to dare to borrow money from banks to expand their businesses and prosper.
In February 2023, the Asian Development Bank (ADB) and Cambodia Post Bank (CP Bank) signed a loan of up to $10 million to support the recovery of micro, small, and medium-sized enterprises (MSMEs) in Cambodia from the impacts of COVID-19 by expanding access to finance. At least 50% of the loan is earmarked for financing women-led MSMEs.
In addition, ADB is supporting CP Bank in mainstreaming gender equality and women’s empowerment into its business activities by developing a gender action plan and appointing a gender focal point among its staff.