Monday
March 8
2021

Cambodia Microfinance Association Members Have Restructured $1.4 Billion in Loans During the Pandemic

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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)

Categories
Coronavirus, Finance
Tags
coronavirus, financial inclusion, microfinance, microloans, SMEs