Logo of Phnom Penh Post newspaper Phnom Penh Post - Acleda, CDB ink $130M credit facility pact

Acleda, CDB ink $130M credit facility pact

Acleda, CDB ink $130M credit facility pact

Acleda Bank Plc, Cambodia’s largest locally-owned commercial bank, has signed a $130 million long-term facility agreement with Chinese state-owned China Development Bank Corp (CDB), the world’s largest development bank by assets, it said in a press release on Friday.

CDB Guangxi branch deputy general manager Lyu Zhinan said Acleda Bank is the primary bank propping up the development of small and medium-sized enterprises (SMEs) in the Kingdom.

He said the newly inked cooperation deal will help more Cambodian SMEs tackle Covid-19 and resume operation, and have a positive influence in the Kingdom’s economic recovery.

Lyu said: “CDB is willing to develop further cooperation with Acleda Bank, undertaking a more important role in promoting rapid economic growth and releasing development potential in Cambodia.”

Acleda Bank president and group managing director In Channy said CDB’s financing will shore up his bank’s long-term growth prospects.

He said the deal will enable his bank to provide an additional 5,000 loans to the Kingdom’s SMEs.

Channy said: “The diversification of funding sources is very important to support sustainable and strategic growth of the bank

“As one of the listed companies on the Cambodia Securities Exchange, we can mobilise funding from the capital market to strengthen our capital, tap into savings and deposits from the financial market for short term funding needs.”


  • All foreigners' accommodations to be inspected: Sar Kheng

    The Ministry of Interior is undertaking a serious effort to inspect all the accommodations of foreigners in Cambodia – except diplomats – in order to find and identify human traffickers. Minister Sar Kheng said this would include inspections on the homes of foreigners employed by businesses, private

  • Ice cream, noodles flagged over carcinogen

    The General Department of Customs and Excise of Cambodia (GDCE) has identified three types of instant noodles and ice cream trademarks originating from Thailand, Vietnam and France that are suspected to contain ethylene oxide, which poses a cancer risk to consumers. The general department has

  • Exclusive interview with Josep Borrell Fontelles, High Representative of the EU

    CAMBODIA is hosting the 55th ASEAN Foreign Ministers’ Meeting (AMM) and Related Meetings this week with top officials from the US, China, and Russia and other countries in the region slated to attend and to meet with face-to-face with their counterparts on the sidelines. In

  • Rise in Thai air routes to Siem Reap fuels travel hopes

    Local tourism industry players are eager for regional airline Bangkok Airways Pcl’s resumption of direct flight services between the Thai capital and Siem Reap town on August 1 – home of Cambodia’s awe-inspiring Angkor Archaeological Park – which is expected to boost the growth rate of

  • ASEAN Foreign Ministers’ meet commences, Taiwan issue possibly on table

    The 55th ASEAN Foreign Ministers’ Meeting (AMM) and related meetings hosted by Cambodia kicks off in Phnom Penh on August 3, with progress, challenges, and the way forward for the ASEAN Community-building on the table. Issues on Taiwan, sparked by the visit of US House Speaker

  • NBC eyes KHQR payments in Laos, Vietnam

    The National Bank of Cambodia (NBC) is working with Lao and Vietnamese authorities to expand the use of KHQR code cross-border payment systems to promote trade and investment as well as increase the scope of regional economic linkages, and in particular, facilitate remittances from overseas