AFD is continuing to support microfinance in Cambodia and is helping the main microfinance institutions to obtain Smart Campaign certification. The result: 4 new certifications which show they comply with the client protection principles.
For ethical and responsible microfinance
It is in the context of the project to support the Cambodian Microfinance Association (an association gathering the country’s 61 microfinance institutions and NGOs) that AFD is financing the Smart Campaign certification process of several of the country’s microfinance institutions.
The NGO Smart Campaign has launched a global campaign which aims to give microfinance institutions (MFIs) the tools they need to deliver transparent, respectful, and prudent financial services to all their clients.
The microfinance industry can consequently strengthen its social nature, while remaining financially sound.
Seven client protection principles
Seven core principles have been defined by sector stakeholders (microfinance associations, microfinance institutions, international networks, NGOs and international investors) in order to establish practices that respect and protect clients :
- Appropriate product design and delivery ;
- Prevention of over-indebtedness ;
- Transparency ;
- Responsible pricing ;
- Fair and respectful treatment of clients ;
- Privacy of client data ;
- Mechanisms for complaint resolution.
Cambodia: Leader in the Smart Campaign initiative
In 2015, LOLC (which was called TPC at the time) was the first Cambodian microfinance institution (MFI) to be certified.
On 11 July 2016, four new Cambodian MFIs obtained the certification granted by the NGO Smart Campaign: Amret, HKL, Sathapana and VisionFund.
This is a major success for these MFIs, but also for the rapidly growing microfinance sector in Cambodia. With six MFIs now certified, the country can pride itself on being the world leader in this client protection principles initiative (62 MFIs certified to date).
Priority sector for AFD in Cambodia
AFD has been active in the development of the microfinance sector in Cambodia since the early 1990s. Today, AFD is continuing its support in order to help microfinance address new challenges (supervision of the risk of client over-indebtedness, diversification of its products and sources of financing).
Rémy Rioux appointed Chief Executive Officer of Agence Française de Développement by the Council of Ministers today, 25 May 2016
Today, on a proposal made by François Hollande at the Parliament on 27 April 2016 and following a unanimous favorable vote of MPs and a majority of Senators, Mr. Rémy Rioux, 46, Deputy Secretary General of the French Ministry of Foreign affairs and International Development, has been appointed Chief Executive Officer of Agence Française de Développement, a Public Industrial and Commercial Establishment responsible for development in Southern countries and the French overseas territories. Rémy Rioux, AFD’s 11th Chief Executive Officer, will take over as head of AFD on 2 June 2016.
Rémy Rioux was born in June 1969 in Neuilly-sur-Seine and is an alumnus of the Ecole Normale Supérieure, rue d’Ulm, Sciences Po, and the Ecole Nationale d’Administration. He is a historian by training, a former student of Alain Corbin and Pierre Nora, and Senior Advisor at the Court of Auditors. During his career, he has alternately held responsibilities in France and for development in Africa.
Rémy Rioux appointed Chief Executive Officer of AFD © Alain Buu
At the age of 26, Rémy Rioux discovered Africa during an ENA internship in Benin, and subsequently by campaigning to promote the harmonization of business law in Africa. He has a love of this continent and has travelled across it throughout his career, established close ties there, and acquired a recognized expertise in development issues. He worked at the Directorate of the Treasury from 2004 to 2007, and subsequently from 2010 to 2012, where he contributed to modernizing monetary cooperation with African Franc Zone member countries, participated in the resolution of the Ivorian crisis, and contributed to making the issue of infrastructure and development central to the international agenda of the G20. At the time, he was a Member of the Boards of Directors of AFD and its subsidiary PROPARCO.
Rémy Rioux also conducted control missions in the energy and defense sectors at the Court of Auditors between 1997 and 2004. He worked at the Ministry of the Interior from 2000 to 2002, at the Office of the Minister Daniel Vaillant, where he was responsible for the budget and changeover to the euro. He also held a position at the State Holdings Agency (APE), from 2007 to 2010, as Chief Investment Officer responsible for the transport and media sectors, and sat on the Boards of Directors of various companies (SNCF, RATP, ADP, Renault, France Télévisions, France Médias Monde, Arte, le Grand Port Maritime du Havre).
In 2012, he was Director of the Office of the Minister of the Economy, Finance and Foreign Trade, Pierre Moscovici. He was actively involved in redefining economic relations between Africa and France and in the work conducted by Jacques Attali on economic Francophonie. Two years later, Laurent Fabius, Minister of Foreign Affairs and International Development, appointed him Deputy Secretary General of the Ministry, in charge of economic issues. Alongside the Minister, he managed the financial component of the negotiations for COP21.
Following the announcement made by the French President in September 2015 of a revival of France’s Official Development Assistance policy and an increase in development and climate finance (by EUR 4bn by 2020, to reach EUR 12.5bn of annual commitments, including EUR 5bn for the climate), he was entrusted with a preparatory mission for the establishment of closer ties between Agence Française de Développement and Caisse des Dépôts, which aims to provide France with a tool capable of meeting the challenges of the Sustainable Development Goals.
He is a man of dialogue and conviction and is deeply attached to the Massif Central region, particularly Corrèze and Lozère, where he regularly stays with his wife and three children.
- 26 June 1969: Born in Neuilly-sur-Seine, France
- 1997: Auditor at the Court of Auditors on leaving ENA (Marc Bloch Class), where he became Senior Advisor in 2013
- 2001 and 2002: Budget Advisor at the Office of Daniel Vaillant at the Ministry of the Interior
- 2003: Control missions in the energy and defense sectors at the Court of Auditors
- 2004: General Directorate of the Treasury, Head of the Office for Monetary and Development Cooperation with African, Caribbean, Pacific and Franc Zone countries
- 2007: Deputy Director for the transport and audiovisual sectors at the State Holdings Agency (APE)
- 2010: Deputy Director for international financial affairs and development at the General Directorate of the Treasury
- 2012 to 2014: Director of the Office of Mr. Pierre Moscovici at the Ministry of the Economy and Finance
- 2014: Deputy Secretary General of the Ministry of Foreign Affairs and International Development in charge of economic affairs
- 2015: Responsible for financial matters in the French negotiation team for COP21.
- June 2016: Appointed the 11th Chief Executive Officer of Agence Française de Développement.
AFD organized on December 8th in Phnom Penh a conference entitled “How to Make the Garment Sector in Cambodia a Model of Competitive, Social and Sustainable Industry”. Workers’ well-being, productivity and competitiveness were at the core of the discussions.
About 100 people joined the event. It was the first time that we could see around the same table representatives of ministries, the garment manufacturer association of Cambodia, factory owners, Better Factory Cambodia, unions, buyers, NGOs, development institutions and even workers.
They all reached the same conclusion: the sector needs to create this type of platform for exchanges. As garment is a major pillar of the Cambodian economy and it is now at a crucial phase of its development, stakeholders have to develop a strategy to ensure the survival and continuing growth of this industry and then build the proper conditions for sustainability.
You can see some of the presentations of the stakeholders at:
Part 1: Overview on the Cambodian Garment Sector and its main stakeholders as of today
- Presentation from the Ministry of Labour and Vocational Training, by H.E. HENG Sour, Director General, spokesperson for the Ministry
- Presentation from the Ministry of Commerce, by H.E. MAK Ousphea, Deputy Director General of Trade Support Services
- GMAC, by Mr. VAN Sou Leng, President
- GAP, by Mr. TRUONG Nga, Assessment and Remediation Manager
Part 2: Existing intervention to improve working and living conditions of workers and productivity
- The Arbitration council, by Mr. MEN Nimmith, Acting Executive Director
- The BFC project, by Mrs. GERMAN Esther, Program Manager
- The National Social Security Fund, by Mr. OUK Samvithyea, Director
- The USAID worker health project, by Mrs SAM Sochea, Project Manager
- The CGTI (Cambodian Garment Training Institute) project, by Mr. KEN Loo, General Secretary
- GIZ, by Mrs. LUEKE Monika, Program Head
Part 3: What gaps can now be filled in?
- Presentation from AFD, by Mrs. CATHELINEAU Emmanuelle and Mr. STEINMETZ Philippe, Country Director for AFD in Cambodia
In the Press:
- The Cambodian "Daily Key Players in Garment Sector Discuss State of Their Industry" - December 9th
- The Phnom Penh Post "Bid to boost Garment Trade" - December 9th