Angkor ACE Star Credit Limited, which is South Korean micro-finance institution, is opening its operation in the Kingdom of Cambodia, and it is the 23rd Micro-finance institution in Cambodia. Chor Sooho, Chief Executive of new micro-finance institution, was quoted by the Post as saying that the firm- which has made an initial investment of US$1 [...]
According to the Asian Development Bank (ADB)’s announcement, it would be granting a US$10 million soft loan to develop and reform the Cambodian government’s financial system such as the establishment of a financial intelligence unit at the National Bank of Cambodia to combat money laundering, strengthening of supervision of the banking sector, installation of an [...]
Given the lack of skilled labor and investment in vocational training in Cambodia, The Asian Development Bank approved a US$24.5 million grant for Ministry of Labor to improve the government’s technical and vocational education training (TVET) system. According to the bank’s statement, this grant will initially fund training in mechanics, construction, business services and information [...]
Cambodian Microfinance Association (CMA) released its figures that during the third quarter of this year, Cambodia’s microfinance institutions (MFIs), which included 21 MFIs and small loans from ACLEDA Bank, increased 5.46 percent to 448.1 million, following a 2.7 percent drop in outstanding loans in the second quarter. According to CMA’s data, non-performing loans (NPLs) declined [...]
On Wednesday, May 27, 2009, the National Assembly passed unanimously the draft law on financial lease that is allow banks to issue leases for equipment, machinery and vehicles to business and enterprises in the wake of the global financial crisis. This law does not apply to land or real estate. Chea Chanto, governor of the [...]
In response to fight against the global financial crisis, the amount of $59.4 million in concessional loans has been granted to Cambodia by Asian Development Bank (ADB). The money has been made available through the bank’s Asian Development Fund (ADF), which received a $400 million boost Tuesday as part of a much broader $3.4 billion [...]
Despite the global financial crisis, US president Barak Obama issued a new release on June 13, 2009 from Washington D.C to decide to make business loan available for American investors who are making investment in Cambodia. It is expected that this decision is to encourage more private companies from America to ask for commercial loans [...]