Khmer Enterprise and Wing Bank Join HandsNovember 30, 2021
Khmer Enterprise and Wing Bank Join Hands to Support Cambodia’s SMEs affected by the pandemic.
The SME members of Khmer Enterprise now can access loans from Wing Bank and its financial digital ecosystem to help them recover from the impact of the pandemic.
Khmer Enterprise and Wing Bank (Cambodia) Plc have entered into a strategic partnership to support the operational development of Cambodia’s small and medium-sized enterprises (SMEs) aiming to promote sustainable and workable ecosystems for entrepreneurs, startups, and SMEs in Cambodia to amplify the impact within the countries ecosystem.
Under this partnership, Khmer Enterprise and Wing Bank will work closely to boost the operations of Small and Medium Enterprises in four key priority sectors; namely Agriculture, Manufacturing, Services and ICT, providing them with the opportunity to access loans from Wing Bank and its financial digital ecosystem.
H.E. Dr. Chhieng Vanmunin, Chief Executive Officer of Khmer Enterprise, said that “the partnership today with Wing Bank will provide another option to our SMEs members who are seeking financial support to their business, especially those who have been adversely affected by the pandemic.”
“SMEs play an integral role in our community through creating jobs, and supplying inputs to larger businesses,” said Mr. Hor Bunthe, Wing Bank’s Deputy Chief Executive Officer. “The partnership today reflects our restless commitment to support SME growth and explore further opportunities to help them sustain their businesses.”
Wing Bank has a long experience in supporting SMEs in Cambodia to grow their Business. As of 2020, Wing Bank has been working with more 2,400 SMEs for collection and disbursement services.
After the launch of its commercial bank license in April 2021, Wing Bank has enhanced its efforts to support the community by establishing financial products and services for both individual customers and businesses. All of which can be accessed through the financial digital ecosystem of Wing Bank, including Wing Money and more than 10,000 Wing Cash Xpress Agents across Cambodia.
Khmer Enterprise, established by the Ministry of Economy and Finance (MEF), aims to mobilize, invest and manage resources to support the development of a vibrant entrepreneurial ecosystem in Cambodia, thereby promoting entrepreneurial activities driving innovation and value-added creation in Cambodia’s economy.
In response to the challenges and impacts of the COVID-19 pandemic from 2020 to 2021, Khmer Enterprise has filtered almost 700 applications, among which 59 startups and SMEs were chosen to receive government grants. In 2022, Khmer Enterprise aims to roll out another round of assistance package program to support startups and SMEs to thrive after the reopening of the economy.
Photo’s caption: Mr. Hor Bunthe, Wing Bank’s Deputy CEO, and H.E. Dr. Chhieng Vanmunin, Khmer Enterprise’s CEO, have officially announced the launch of the partnership aimed at supporting SMEs.