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The state-owned Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) has prepared an additional sum of more than $220 million to loan to the Kingdom’s smaller businesses and give them a better shot at sustainability, to expand and boost economic growth in the post-Covid-19 era.
The government plans to provide an additional $100 million to the state-owned Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) to broaden the scope of its lending and create opportunities for the Kingdom’s smaller businesses to have better footing
The Ministry of Economy and Finance on February 14 allocated $100 million to two state-owned banks to provide additional support to small- and medium-sized enterprises (SME), and the agriculture and agro-industry sectors.
Wing Bank (Cambodia) Plc and the Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) have signed a memorandum of understanding (MoU) to provide affordable loans to small and medium enterprises in the Kingdom through the SME Co-Financing Scheme Phase II (SCFS II).
The Asian Development Bank (ADB), in an effort to support the government, has approved a $40 million policy-based loan to expand access to credit among micro-, small-, and medium-sized enterprises (MSME) and implement reforms to boost financial stability and upgrade financial sector infrastructure amid the health crisis.