Phnom Penh – Oct. 18 – The Asian Development Bank (ADB) has approved a $40 million policy-based loan to support the Government of Cambodia’s efforts to expand access to credit among micro, small, and medium-sized enterprises (MSMEs) and implement reforms to boost financial stability and upgrade financial sector infrastructure.
The third subprogram of the Inclusive Financial Sector Development Program follows two previous subprograms, which were implemented from 2016 to 2019 to help Cambodia develop an efficient and stable financial sector by bolstering financial inclusion and financial stability.
“The Government of Cambodia has made significant strides in preserving financial stability and improving crisis management amid the COVID-19 pandemic,” said ADB Financial Sector Specialist Benita Enable. “Under the new subprogram, the government has adopted key legislation supporting a national financial inclusion strategy and launched several initiatives to increase access to finance, including Cambodia’s first-ever small and medium-sized enterprise public credit guarantee scheme.”
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