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

The Credit Guarantee Corporation of Cambodia (CGCC) and Wing Bank (Cambodia) Plc. have signed a USD 50 million ‘Wholesale Guarantee Scheme’ (WGS) agreement. The signing took place at Wing Tower between No Lida, CEO of CGCC, and Dr. Dmytro Kolechko, CEO of Wing Bank, with 30 attendees representing both institutions in attendance. 

The WGS was officially approved by the Minister of Economy and Finance and launched on January 31, 2025, to provide guarantees on existing business loans of participating financial institutions (PFIs). The scheme allows for risk sharing with PFIs and reduces the risk weight on the part of the exposure that is guaranteed by the CGCC. 

According to the Prakas on ‘Credit Risk for Capital Adequacy Ratios in Deposit-Taking Banks and Financial Institutions’, issued by the National Bank of Cambodia (NBC) on June 29, 2023, exposures denominated in riel or currency that are clearly and unconditionally guaranteed by the Cambodian government—including guarantees by credit guarantee schemes established by the government—are zero percent risk-weighted.

“CGCC is pleased to launch our first Wholesale Guarantee Scheme (WGS) with Wing Bank," said No Lida. "This innovative guarantee scheme will mutually benefit Wing Bank and CGCC and 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 further added: 

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 to receive CGCC's wholesale guarantee, aiming to increase and expand the bank's capacity to provide essential financing to SMEs in Cambodia, and in line with CGCC's shared commitment to improve financial inclusion and contribute to national economic growth.

This press release was supplied.