Agreement to Support Cambodia’s Private Sector Development Signed

National Bank of Cambodia (NBC) and International Finance Corporation (IFC) have entered a Memorandum of Understanding (MoU) to implement a project on “Development of Financial Supply Chain Market”.

The MoU was inked virtually recently between H.E. Rath Sovannorak, Director General of Banking Supervision on behalf of NBC Governor and representatives of IFC.

The project on development of the financial supply chain market will help support the Royal Government of Cambodia to further improve the private sector in the country.

It is also aligned with the national strategic prior action plan on inclusive finance for 2019-2025 to promote credit productions for small and medium sized enterprises (SMEs).

The project will play a crucial role as a guiding document for the preparation of SME policy and financing ecosystem in Cambodia through the enhancement of regulatory support, and knowledge improvement.