AKP Phnom Penh, July 17, 2025 --

GuarantCo, part of the Private Infrastructure Development Group (PIDG), announced on July 16 that it has successfully concluded a strategic Counter-Guarantee agreement with the Credit Guarantee Corporation of Cambodia (CGCC), reinforcing its commitment to sustainable infrastructure development in Cambodia.

The US$10 million facility provided by CGCC supports GuarantCo’s existing US$70 million guarantee for CamGSM PLC (“Cellcard”), helping manage its single obligor, sector and geography exposure limits.

This milestone transaction marks a breakthrough in risk-sharing structures in Cambodia, showcasing a pioneering collaboration between an international development finance institution and a state-owned local guarantor.

This Counter-Guarantee facility delivers key strategic advantages for both GuarantCo and CGCC. It enables GuarantCo to manage its exposure limits while continuing to support high-impact transactions like the Cellcard sustainability bond.

For CGCC, this agreement marks a significant step forward in its institutional evolution, as it gains direct experience with large-ticket infrastructure transactions and learns from GuarantCo’s risksharing and structuring methodologies.

This engagement not only fosters knowledge transfer but also positions CGCC to develop a new product offering tailored to complex infrastructure financing needs within its guarantee suite.

Together, the partnership exemplifies how local and international institutions can collaborate to unlock new models for infrastructure finance in emerging markets.

Nishant Kumar, Managing Director, Asia Investments, GuarantCo and Head of Coverage - Asia, PIDG, said this initiative underscores the ongoing commitment to market development, sustainable financing, and strategic collaborations across Southeast Asia.

“Through our partnership with CGCC, we aim to advance our mission of developing vibrant local debt capital markets that channel non-bank funding into sustainable infrastructure projects. Moreover, this collaboration with CGCC will enhance capacity within the Cambodian market, which we believe will serve as a catalyst for the growth and development of Cambodia’s debt capital markets,” he said. 

No Lida, CEO of the Credit Guarantee Corporation of Cambodia, said the CGCC is pleased to kick-start the collaboration with GuarantCo through this Counter-Guarantee transaction as part of longterm strategic partnership to support the development of Cambodia's local bond market.

“This transaction has helped us enhance CGCC’s bond guarantee capacity and support GuarantCo with its exposure limits. We are excited and look forward to our next risk-sharing transaction with GuarantCo,” he said.

By Chea Vannak