, Cambodia
Photo from ADB.

ADB, Cambodia’s Foreign Trade Bank to boost financing for MSMEs

MSMEs comprise 99% of Cambodia’s enterprises.

The Asian Development Bank’s (ADB) Trade and Supply Chain Finance Programme and the Foreign Trade Bank of Cambodia (FTB) will collaborate to support trade finance for the micro, small and medium-sized enterprises (MSMEs) in the Southeast Asian country.

In a statement, ADB Country Director for Cambodia Jyotsana Varma said the partnership will provide the financing to support trade and MSMEs, who account for 99% of the country’s enterprises, through partner banks.

ALSO READ: Alibaba.com inks partnership with Alioth to support SMEs

“The agreement is part of ADB’s private sector development initiative to promote the sector’s participation in Cambodia’s economic diversification,” Varma said.

The ADB added that the collaboration will open opportunities to expand regional and international trade and commerce support.

 

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