CGCC and Wing Bank Signs Agreement on USD 50 Million Wholesale Guarantee Scheme

Credit Guarantee Corporation of Cambodia (CGCC) and Wing Bank (Cambodia) Plc is pleased to sign an Agreement on 50 million Wholesale Guarantee Scheme (WGS), with the honorable presence of Mr. No Lida, CEO of CGCC and Dr. Dmytro Kolechko, CEO of Wing Bank, and the honorable participation of management and of both institutions approximately 30 participants, held at Wing Tower.

Under the highest approval of H.E. Deputy Prime Minister, Minister of Economy and Finance, WGS was officially launched on 31 January 2025 to provide guarantees on existing business loans of Participating Financial Institutions (PFIs) to share risk with PFIs and reduce the risk weight on the part of the exposure that is guaranteed by CGCC. According to the Prakas Credit Risk for Capital Adequacy Ratios in Deposit-Taking Banks and Financial Institutions of the National Bank of Cambodia on 29 June 2023, exposures denominated in riel or currency that are clearly and unconditionally guaranteed by the Royal Government of Cambodia, including guarantees by credit guarantee schemes established by the Royal Government of Cambodia, are zero percent risk-weighted.

Mr. No Lida, CEO of CGCC, mentioned that, “CGCC is pleased to launch our first Wholesale Guarantee Scheme (WGS) with Wing Bank. This innovative guarantee scheme will mutually benefit Wing Bank and CGCC. It will assist CGCC in effectively managing the quality of our guarantee portfolio to ensure long-term sustainability. Most importantly, it will increase available lending to SMEs.”

Dr. Dmytro Kolechko, CEO of Wing Bank, emphasized that, “SMEs are the heartbeat of our economy, and with this partnership, we are better equipped to support their ambitions, fuel their resilience, and unlock their potential. I believe that when we invest in SMEs, we invest in the future of Cambodia. Together with CGCC, and with the support of the Royal Government, we are building a stronger, more inclusive financial ecosystem—one that empowers entrepreneurs and strengthens communities across the nation.”

Through this agreement, Wing Bank is the first CGCC Participating Financial Institution (PFI) to receive CGCC’s wholesale guarantee, aiming to increase and expand the bank’s capacity to provide essential financing to small and medium enterprises in Cambodia, and in line with CGCC’s shared commitment to improve the financial inclusion and contribute to national economic growth.