ICBC Phnom Penh branch fosters Sino-Cambodian cooperation

The Industrial and Commercial Bank of China's branch in Phnom Penh has made sustained efforts to support the Belt and Road Initiative (BRI) projects, advancing economic integration and renminbi (RMB) internationalization for regional prosperity.

Leveraging ICBC Group's global resources and advantages in cross-border coordination, the branch is providing various financial services for China-Cambodia cooperation projects.

It has strengthened both internal and external collaboration, to better fulfill investment approval requirements and expand the coverage of its financial services.

Tailored solutions — integrating consulting, settlement, financing, and risk management — are provided to Chinese enterprises in Cambodia, delivering end-to-end financial support across the entire value chain.

As of now, the branch has participated in over 60 percent of China-Cambodia BRI projects. It will continue to enhance its service quality and accessibility for overseas initiatives.

The new Siem Reap International Airport--a major BRI project supported by ICBC's branch in Phnom Penh

Supporting for industrial and supply-chain cooperation

The branch has played an active role in major BRI projects such as the Phnom Penh-Sihanoukville Expressway and the new Siem Reap International Airport.

Through syndicated loans and agency banking services, it has contributed to efficient capital flows and helped major projects start operation ahead of schedule.

Meanwhile, the branch has supported Cambodia’s energy transition by expanding green credit offerings in sectors such as solar energy, thereby driving the region's low-carbon development.

It is the development of Chinese industrial parks in Cambodia that enhancing their capacity to undertake major projects and improving the investment efficiency and global competitiveness of Chinese enterprises overseas.

The Phnom Penh-Sihanoukville Expressway--a major BRI project supported by ICBC's branch in Phnom Penh

Financial innovation promotes RMB usage and regional cooperation

Utilizing supply chain financing solutions such as letters of credit coupled with forfaiting, the branch has supported leading Chinese enterprises in expanding their downstream telecom operator business in Cambodia and achieved remarkable results in boosting equipment exports.

It has also organized multiple RMB business promotion events, utilizing the CHIPS system to help Cambodian market entities develop more RMB application scenarios.

Last year, its cross-border RMB business increased by 9.5 times year-on-year.

Additionally, capitalizing on the technological strengths of the ICBC group, the branch is providing electronic toll collection services for the Phnom Penh-Sihanoukville Expressway project. This marked the first overseas ETC service implemented by ICBC.

Also in 2024, it connected with Cambodian central bank payment systems as well as UnionPay platforms, launching the "Salary Remittance" service to facilitate people-to-people exchanges between the two countries. 

Looking ahead, the ICBC Phnom Penh branch will continue to act as a financial bridge, delivering high-quality financial for bilateral cooperation and promoting the building of a China-Cambodia community with a shared future.