The Royal Government of Cambodia will Release an Additional USD 100,000,000 to SME banks

Cambodia News, ( Phnom Penh): In 2023, the Royal Government of Cambodia plans to provide an additional US$100 million to SME Bank to expand the scope of its lending to local SMEs and to strengthen the sector in contributing to the national economic growth after the Covid-19 crisis.

His Excellency Phan Phalla, Secretary of State of the Ministry of Economy and Finance, said this at a press conference on "Public Outreach on the Achievements of the Implementation of the Small and Medium Enterprise Support Co-financing Project on Monday this week."

The official of the Ministry of Economy said that if the economy is still struggling, if there is a need for additional intervention from the Royal Government to support the economic activities and business activities of small and medium enterprises, SME Bank will launch a joint financing project to support large enterprises.
Small and Medium Enterprises Phase 3(SCFS III) continues after Phase 2 was completed in September 2022 to help small and medium enterprises be able to rebuild their business after the COVID-19 pandemic.

CEOCambodiaNews wrote: ↑Sat Dec 10, 2022 9:51 am The Royal Government of Cambodia will Release an Additional USD 100,000,000 to SME banks

Cambodia News, ( Phnom Penh): In 2023, the Royal Government of Cambodia plans to provide an additional US$100 million to SME banks to expand the scope of its lending to local SMEs and to strengthen the sector in contributing to the national economic growth after the Covid-19 crisis.

His Excellency Phan Phalla, Secretary of State of the Ministry of Economy and Finance, said this at a press conference on "Public Outreach on the Achievements of the Implementation of the Small and Medium Enterprise Support Co-financing Project on Monday this week."

The official of the Ministry of Economy said that if the economy is still struggling, if there is a need for additional intervention from the Royal Government to support the economic activities and business activities of small and medium enterprises, SME Bank will launch a joint financing project to support large enterprises.
Small and Medium Enterprises Phase 3(SCFS III) continues after Phase 2 was completed in September 2022 to help small and medium enterprises be able to rebuild their business after the COVID-19 pandemic.

Source please?

armchairlawyer wrote: ↑Sat Dec 10, 2022 12:52 pm

CEOCambodiaNews wrote: ↑Sat Dec 10, 2022 9:51 am The Royal Government of Cambodia will Release an Additional USD 100,000,000 to SME banks

Cambodia News, ( Phnom Penh): In 2023, the Royal Government of Cambodia plans to provide an additional US$100 million to SME banks to expand the scope of its lending to local SMEs and to strengthen the sector in contributing to the national economic growth after the Covid-19 crisis.

His Excellency Phan Phalla, Secretary of State of the Ministry of Economy and Finance, said this at a press conference on "Public Outreach on the Achievements of the Implementation of the Small and Medium Enterprise Support Co-financing Project on Monday this week."

The official of the Ministry of Economy said that if the economy is still struggling, if there is a need for additional intervention from the Royal Government to support the economic activities and business activities of small and medium enterprises, SME Bank will launch a joint financing project to support large enterprises.
Small and Medium Enterprises Phase 3(SCFS III) continues after Phase 2 was completed in September 2022 to help small and medium enterprises be able to rebuild their business after the COVID-19 pandemic.

Source please?

Yes, thank you for the fact check : In the translation there is a small 'b' for bank and a 's' on the word bank, whereas the title should read as SME BANK , instead of SME banks, which does change the meaning of the announcement.
So please note that this is an announcement of continuing Cambodian government support for financing the SME BANK only, and not various SME (small and medium enterprise) banks, as was first reported.

Small Enterprises Get $50m Loan Boost
By Ou Sokmean December 7, 2022 11:02 AM
PHNOM PENH – The Asian Development Bank has approved a $50 million loan to make Cambodia’s micro, small and medium-sized enterprises more competitive.

The loan was given under the bank’s Trade and Competitiveness Program which aims to improve the business climate for domestic and foreign firms to diversify and boost the economy and competitiveness.

The program provides for the country’s post-COVID-19 economic recovery in three reform areas.

These are supporting government reforms to boost the investment and business environment; growing micro, small, and medium-sized enterprises (MSMEs); and improving trade policy as well as enhancing trade for more export opportunities.

The reforms would pave the way for businesses to grow and migrate to higher value-added segments and adapt to the changing trade landscape, ADB senior economist Sion Morton said on Dec. 6.

Through the program’s supports for MSMEs development and diversification, the investors’ access to finance is improved and new markets are created, with simplification of the legal definition of MSMEs and the launch of a government-funded assistance package.

The purpose is to provide grants and technical support to MSMEs in priority industries with high female participation, ADB added.
https://cambodianess.com/article/small- ... loan-boost