Financial Literacy for Women Boosted

AKP Phnom Penh, July 28, 2020 —

The National Bank of Cambodia (NBC) and the Ministry of Women’s Affairs (MoWA) organised a training programme on “Financial Literacy for Women Entrepreneurship Development” in Siem Reap province on July 27.

Supported by VISA, the programme was presided over by H.E. Mrs. Ing Kantha Phavi, Minister of MoWA and attended by H.E. Tea Seiha, Governor of Siem Reap province, H.E. Ms. Chea Serey, Director General of Central Banking, and H.E. Rath Sovannorak, Director General of Banking Supervision of NBC.

The training was part of the cooperation between the NBC and MoWA and also one of the key priorities set in the National Strategy on Financial Inclusion 2019-2025, especially women financial inclusion and financial literacy improvement, according to NBC.

H.E. Mrs. Ing Kantha Phavi laid stress on the importance of the training in reducing the vulnerability of women entrepreneurs, saying that it will help women not only in expanding their businesses, but also in increasing their ability and confidence in family financial management and decision making.

For her part, Director General of the NBC’s Central Banking said that empowering women with financial literacy will contribute to improving the living standard of their respective families and communities.

“The more women access formal financial services and use them responsibly and appropriately, the more they will be able to contribute to their family’s and community’s social and economic development,” H.E. Mrs. Chea Serey said.

“This leads to better living standards, business opportunities, savings, and preparedness for financial emergencies. As a result, their families and communities are able to better access to basic services, such as education, sanitation, health care and clean water, etc.,” she continued.

“Therefore, improving financial literacy, especially for women and women entrepreneurship will serve as the foundation for Women’s Financial Inclusion Development,” stressed H.E. Mrs. Chea Serey.

(Photo: NBC)

By Chea Vannak