Tag Archives: microfinance

Micro-Loans Decreasing in Slow Economy

Outstanding debt for microfinance loans dipped slightly in the first half of the year, with less people borrowing in a slow economy, according to a national group of microfinance lenders. Outstanding loans were down at least $20 million for the first half of 2009, the first-ever decrease in nearly a decade, according to the Cambodian … Continue reading

Commercial banks loan to small enterprises

Cambodia commercial banks are playing an important role in providing loans for Cambodia’s small and medium enterprises to drive the economic growth, but small enterprises lack the formal financial support to expand their business, it is because the banking and financing sector do not access the remote rural areas. According to studies, there are around … Continue reading

New MFI to issue property loans

WHILE most banks remain reluctant to provide real estate loans to customers amid the global financial downturn, a new microfinance institution set to launch June 8 says it will channel lending to house purchases and construction. “For the first time, home financing will be available to middle- and lower-income Cambodians,” Talmage Payne, CEO of newcomer … Continue reading

Banking on an economic crisis

EXACTLY one year after the subprime mortgage crisis first hit in the United States in July 2007, Cambodia’s central bank took measures to reduce liquidity in its undeveloped financial system by doubling reserve requirements from 8 percent to 16 percent. This move showed Phnom Penh was clearly out of sync with the world’s major financial … Continue reading

Microfinance recruitment slowing

THE rate of job creation in the microfinance sector will slow sharply this year as the sector’s previously high levels of loan growth start to slow, the industry body has warned. Bun Mony, chairman of lender Sathapana Limited and a board member of the Cambodian Microfinance Association (CMA), forecasts sector-wide employment growth could be as … Continue reading

Lenders faced with the repayment of microfinance loans

In the meeting, representatives and experts said that around 0.6 percent of borrowers from the Cambodia Microfinance Association (CMA) are unable to pay their loans. Although this represents a small percentage, late payments are on the rise. Bun Mony, director of MCA, was quoted by the Cambodia Daily as saying that “most of my borrowers … Continue reading