The Asian Development Bank (ADB) on December 6 announced that it has greenlit a $50 million policy-based loan under Subprogram 1 of its Trade and Competitiveness Program to support government efforts to diversify the economy, better enable local businesses to compete globally, and boost Covid-19 recovery.
The government plans to provide an additional $100 million to the state-owned Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) to broaden the scope of its lending and create opportunities for the Kingdom’s smaller businesses to have better footing, expand operations, and fuel economic growth in the post-Covid-19 era.
Vietnam Bank for Social Policies has been praised by the delegation of the Asia-Pacific Rural Agricultural Credit Association (APRACA) on a Vietnam visit to attend the recent international workshop on “Pro-Poor Rural and Agricultural Finance Best Practices: Experiences of Vietnam.”
The General Department of Taxation (GDT) on November 28 issued a fresh warning to business owners to pay their tax bills by year’s end or face temporary or permanent closure, and other legal repercussions.
The state-owned Small and Medium Enterprise Bank of Cambodia Plc (SME Bank) has disbursed some $418 million in loans to at least 3,185 small- and medium-sized enterprises (SME) since its foundation, as of October 31, to keep them from going under during the height of the Covid-19 crisis, and subsequently to help them reopen and expand post-pandemic, according to its CEO.
Revenues collected by the General Department of Taxation (GDT) have been on a progressive rise, buoyed by greater general understanding of tax obligations and more effective law enforcement in the area, as well as overall improvements in the economic situation, observers have said.