PHNOM PENH: The French Development Agency (AFD) is committed to continuing its cooperation in the development of the microfinance sector in Cambodia.
The commitment was emphasized by Ms. Sandrine Boucher, AFD Country Director for Cambodia, while she accompanied H.E. Jacques Pellet, Ambassador of France to Cambodia, in a meeting with H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia (NBC), in Phnom Penh late last week.
AFD will also continue an open dialogue with the NBC and relevant institutions to promote responsible lending, improve risk management, and enhance financial literacy, she added, mentioning the AFD’s cooperation in other areas, namely green finance, energy, water, and electricity.
Ms. Sandrine Boucher also briefed the NBC governor on AFD’s work in Cambodia such as providing financing for microfinance institutions and technical assistance for financial institutions, including the Cambodian Microfinance Association (CMA), to support institutional capacity building and contributing to the promotion of consumer protection principles.
For her part, H.E. Dr. Chea Serey thanked AFD for its strong commitment to continue cooperating in microfinance development, which will contribute significantly to improving people’s living standards and boosting the country’s economic growth.
The NBC governor sought more cooperation from AFD in training, especially for the Centre for Banking Studies, and requested the agency to help strengthen the capacity of the NBC’s staff in museum management and central bank communication skills through scholarships or skills sharing from French experts.