Asian Development Bank and Cambodia Post Bank Sign $10 Million Loan to Support Recovery of MSMEs From Pandemic
The Asian Development Bank (ADB) and Cambodia Post Bank (CP Bank) signed a loan of up to $10 million to support the recovery of micro, small, and medium-sized enterprises (MSMEs) in Cambodia from the COVID-19 pandemic by expanding their access to finance. At least 50% of the proceeds are marked to finance MSMEs led by women.
“Improving MSMEs’ access to working capital and longer term financing has considerable benefits, not only for their growth but also for job creation and broader economic recovery,” said ADB Vice-President for Private Sector Operations and Public–Private Partnerships Ashok Lavasa. “This financing will support the profitability of these businesses by improving their competitiveness and giving them access to domestic and international production networks.”
Photo courtesy of Chhor Sokunthea.