AKP Phnom Penh, January 24, 2025 --

H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia (NBC) and Mr. Jo Scheuer, United Nations Resident Coordinator in Cambodia, co-led the Second NBC-UN High-level Multi-stakeholder Convening on Microfinance in Cambodia, at Raffles Hotel Le Royal in Phnom Penh on Jan. 23.

The meeting was attended by technical experts from various relevant ministries and institutions including Banking and Finance sector and Non-Bank Financial Service Authority, development partners – IFC, AFD, ILO, representatives of the European Union, investors in the microfinance – Incofin, Alterfin, DEG, FMO, and non-governmental organisations – Oxfam and CENTRAL.

This second meeting aimed to update progresses of priority actions that have been upheld by multi-stakeholders since the first high-level meeting on July 12, 2024.

The meeting was a critical milestone in achieving both sides’ shared goals of strengthening the financial and banking ecosystem, supporting Cambodia’s sustainable development agenda, and ensuring economic stability.

Another objective of the meeting is to understand and resolve the issues which have so far been raised baseless in lending, such as indebtedness and unprofessional confiscation that affects people's livelihoods, the NBC governor said.

Some organisations, including LICADHO, which have often raised issues in Cambodia’s microfinance sector with the international media, have refused to participate in the mechanism to find solutions for the people, despite the facilitation of the UN.

By Chea Vannak