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Cambodians Are Bingeing on Microfinance Loans

The downturn brought on by COVID-19 will test the industry.

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SME Bank and ARDB Disburse $63M in Loans

Ministry of Economy and Finance undersecretary of state Ros Seilava told a news conference that the economic crisis instigated by COVID-19 had been the primary trigger for the emergency SME lending endeavours.

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Cambodia: Micro-Loan Borrowers Face COVID-19 Crisis

Debt relief measures by micro-loan providers in Cambodia are failing to alleviate the serious financial burdens on indebted families affected by the COVID-19 pandemic.

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Garment Workers Pressed by Piling Microfinance Debt, Report Says

Tens of thousands of garment workers, who are facing slashed work hours and wages amid the global pandemic and economic downturn, will struggle to repay mounting microfinance debt, a new civil society report says.

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Cambodians Forced to Sell Assets to Repay Loans as Coronavirus Hammers Economy

Many Cambodians are being forced to sell their livestock and farms to pay off debts to banks and microfinance institutions, prompting calls for the government to prevent lenders from collecting during the outbreak.

News

For Many Cambodians, Debt Repayment Bigger Threat Than COVID-19

Deep household debt might soon push Cambodia into a crisis as job losses caused by  Covid-19 make it even harder for families repay loans, experts and debtors say.

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Cambodian Workers Owe $10 Billion in Microfinance Debt as COVID-19 Wipes out Incomes

With many Cambodians out of work, COVID-19 is also throwing another problem into sharp relief: that of precariously high microfinance debt.

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Coronavirus Pandemic Deepens Cambodia's Microfinance 'Crisis'

The couple, in their 50s, run a roadside restaurant in Kampong Speu, a province west of Phnom Penh that has the highest number of microcredit loans in Cambodia.

News

Banks and Microfinance Institutions to Remain Fully Operational During COVID-19 Crisis

The Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) have announced that all services will continue to be offered throughout the current COVID-19 pandemic, according to a joint statement by the ABC and CMA released last week.