BRED Bank Cambodia has signed a memorandum of understanding in a joint initiative with SME Bank and the Royal Cambodian Government to provide funds to support the SME Co-Financing Scheme Phase II (SCFS II).
The initiative is designed to bring a wide range of benefits to the SME sector in Cambodia, providing convenient access and affordable financing that will promote economic diversification in the Kingdom.
The scheme will also help to relieve the burden of some businesses that are currently struggling following the economic downturn associated with the global pandemic.
In recent years, BRED Bank Cambodia has established itself as the best bank for business in the Kingdom and has made a substantial initial commitment to the scheme with the prospect of further funds in the future.
“We’re delighted to be part of this important initiative,” said Mr. Guillaume Perdon, BRED Bank Cambodia’s Chief Executive Officer. “Once again, this underlines our commitment to the Kingdom and to doing everything we can to support economic growth in Cambodia.”
Mr. Lim Aun, CEO of SME Bank of Cambodia expressed his sincere appreciation of BRED Bank’s management team for their strong interest in collaborating as one of the Participating Financial Institutions in the second SME Co-Financing Scheme. “This synergy will enable SMEs to start, recover, sustain and grow their businesses amid this Covid19 pandemic situation. I believe this is our first cooperation but it won’t be our last. Together, with our collaborative aspirations, we will continue to support SMEs in Cambodia especially those in the Government’s priority sectors to get access to affordable financing.”
For more information on BRED Bank Cambodia visit bredcambodia.com.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.