National Bank of Cambodia Slams NGOs’ Lending Report
By Thou Vireak
The National Bank of Cambodia (NBC) on Thursday slammed a report on predatory lending in the Kingdom by local human rights NGOs Licadho and Sahmakum Teang Tnaut (STT), which was released on Wednesday, as “flawed”.
The report, entitled Collateral Damage, claimed that increasing levels of debt caused by taking loans from microfinance institutions (MFIs) is forcing rural families to sell off their land.
The Cambodia Microfinance Association (CMA) said the report on predatory lending paints a distorted picture and ignores significant contributions to poverty alleviation and financial inclusion by MFIs.
Photo courtesy of aaron gilson.