Coronavirus pandemic deepens Cambodia’s microfinance ‘crisis’

Mired in debt, Sok Khim and her husband Kai Vai face losing their land and business. They are far from alone.

The couple, in their 50s, run a roadside restaurant in Kampong Speu, a province west of Phnom Penh that has the highest number of microcredit loans in Cambodia.

“Many people, maybe 90% here, are in debt,” Vai told the Nikkei Asian Review. “Some of them are able to sell their land and pay back their loan. [The lender] warned us they will just take the land for free if we do not sell it.”

In full: https://asia.nikkei.com/Business/Finance/Coronavirus-pandemic-deepens-Cambodia-s-microfinance-crisis

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