MFIs restructure $488m in loans

Microfinance institutions (MFIs) in Cambodia have restructured almost $500 million in loans for nearly 120,000 borrowers, a move the banks claim helped ease the burden on clients facing Covid-19 financial pressures.

Cambodia Microfinance Association (CMA) head of communications Kaing Tongngy said 137,158 clients had applied for credit restructuring as of Sunday. Of that, 118,182, or 90 per cent, were approved for $488 million.

He said the data collection was aimed at monitoring the impact of Covid-19 on clients, customer support for member institutions and the overall development of the microfinance industry to assess and submit reports to stakeholders.

In full: https://www.phnompenhpost.com/business/mfis-restructure-488m-loans

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