CGCC provides credit guarantees worth $150 million to businesses

PHNOM PENH: The Credit Guarantee Corporation of Cambodia () has provided credit guarantees worth $149 million, especially to micro, small, and medium-sized enterprises (MSMEs), as of September 2023.

Beneficiaries are 1,762 businesses, according to a report issued early on Tuesday by the CGCC.

Of the supported businesses, 1,617 are micro, small, and medium-sized enterprises, 145 are large firms, and 741 are women-owned.

Under the CGCC's scheme, 27 financial institutions participated in providing credit for working capital and business expansion to SMEs.

CGCC, the first credit guarantee institution in Cambodia, was established in August 2020, during the COVID-19 pandemic, to provide timely financial assistance to local businesses.

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