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.
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.
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.
Mastercard Commits to Delivering Economic Empowerment Tools and Resources to More Than One Million Women in Guatemala, El Salvador and Honduras
The commitments are part of Mastercard’s engagement, as a founding member, in the Partnership for Central America.
SPTF and Cambodia Microfinance Association Sign Agreement to Strengthen Client Protection in Cambodia’s Financial Services
The partnership will help chart a roadmap for responsible growth, financial stability and customer protection in Cambodia's microfinance and broader financial sector.
Silatech Launches Project to Support 89,000 Youths in Cambodia, India and Sri Lanka
The three-year project aims to eliminate barriers in access to finance for young entrepreneurs, create income generation opportunities and promote financial inclusion and growth.
IFC Investment Will Allow Banco General to Support Mortgage Financing and Boost Climate Products
IFC, a member of the World Bank Group, provided Banco General, S.A., a loan of $150 million for mortgage lending for low and middle-income families in Panama, at the end of 2019.
BBVA Microfinance Foundation’s Institutions Establish Measures for the 2.2 Million Entrepreneurs It Serves During the Health Crisis
Aligned with its social purpose and in light of COVID-19’s progress in Latin America, BBVA Microfinance Foundation’s six institutions in five countries in the region have adopted urgent and necessary measures to help its 2.2 million clients cope with this situation.
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.