Cambodia Microfinance Association Members Have Restructured $1.4 Billion in Loans During the Pandemic
Financial institutions that are members of the Cambodia Microfinance Association (CMA) restructured some $1.397 billion in loans for 289,422 borrowers as of February 28 since the National Bank of Cambodia (NBC) on March 27 issued a circular on loan restructuring during Covid-19, according to CMA.
The number of applicants for credit restructuring during the period reached 307,875, translating to a 94 per cent approval rate, CMA data show.
The association has pointed out that the number of applicants has remained on a significant, encouraging downtrend and augurs particularly well for the finance sector.
Photo courtesy of shankar s.
Source: Phnom Penh Post (link opens in a new window)
- Coronavirus, Finance