SME Bank and FASMEC Signed MOU to Cooperatively Promote and Develop SMEs in Cambodia

SME Bank and FASMEC Signed MOU to Cooperatively Promote and Develop SMEs in Cambodia


Phnom Penh, 23rd September, 2021 – To continue to actively contribute to the economic recovery during the Covid-19 epidemic and, in particular, to support the sustainable and workable ecosystems for SMEs in Cambodia, SME Bank of Cambodia has partnered with Federation of Associations for SMEs of Cambodia (FASMEC) to mutually commit to promote and develop SMEs and to amplify the impacts within Cambodian business community.

Under this cooperation, SME Bank of Cambodia and FASMEC are committed to jointly support SMEs through (1) SME Bank of Cambodia will provide loans to SMEs that are members of FASMEC for the purposes of expanding or developing new businesses (2) SME Bank of Cambodia will participate in activities, trainings, workshops and gatherings organized for SMEs by FASMEC.

Mr. Lim Aun, Chief Executive Officer of SME Bank of Cambodia, stated that “SME Bank of Cambodia has been providing attractive financial services including low interest rate and favourable terms that facilitates SME customers in accessing loans. In the future, SME Bank of Cambodia plans to develop a wider distribution network for potential customers and to facilitate the Bank’s financial transactions. The Bank will invest more in opening new branches and strengthening the technology infrastructure, as well as to partner with other institutions in order to better serve SME customers in Cambodia.”

Mr. Lim Aun further added that “For instance, SME Bank of Cambodia has today signed a Memorandum of Understanding with FASMEC to mutually commit to promote entrepreneurship, especially through providing financial support to entrepreneurs, as well as SMEs that have gone through trainings with Khmer Enterprise to be able to successfully start and expand their businesses.”

Oknha Te Tang Po, Chairman of the Board of Directors of FASMEC, stated that “_Many small and medium enterprises are facing financing problems to support their enterprises and to increase their business, which is why the Cambodian Small and Medium Enterprises Association cooperates with the SME Bank of Cambodia to provide loans. To those small and medium enterprises with reasonable interest rates.”

As a commercial bank and a policy bank, SME Bank of Cambodia strives to implement all activities to facilitate SMEs in Cambodia to get accessed to affordable financing.

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