Asian Development Bank yesterday approved a $60 million loan to Cambodia to boost labor skills and competitiveness and help the government’s efforts to transit the economy into a skills-driven one. Cambodia is ranked 110th out of 140 economies in the 2018 Global Competitiveness Report, based on ...

Six countries pledged to enact $66 billion worth of projects over the next five years at the Greater Mekong Subregion (GMS) Summit in Hanoi on Saturday, with Cambodia-specific projects scheduled to receive the least amount of funding of any participant. ...

Outstanding loans and deposits in Cambodia’s crowded microfinance institution (MFI) sector have seen a sharp rise in the first three quarters of this year. ...

Financial markets in Cambodia have to serve more people, especially the poor, with more products at a lower cost and the key challenge lies in creating a broader interconnected financial ecosystem that reaches populations that cannot access banks, said industry experts. ...

More Cambodians than ever are turning to microfinance for money to cover their small business endeavours or pay expenses, and, increasingly, they are looking to protect their families from the burden of these debts in the event of death or disability. ...

Cambodia’s microfinance sector continued to expand rapidly during the first half of the year, despite concerns over rising default rates as the industry’s main borrowers – provincial farmers – struggle to repay their loans after successive seasons of drought and poor harvests. ...

Sathapana Ltd, the third-largest microfinance institution (MFI) in Cambodia, has submitted a formal application to the central bank to merge with a local Japanese-owned bank and operate the consolidated entity as a commercial bank, a company executive said yesterday. ...

Prince Microfinance Plc held its official opening yesterday, becoming the 49th registered microlender to operate in Cambodia’s rapidly expanding microfinance market.Hon Sorachana, CEO of Prince Microfinance Plc, said the new financial institution will focus on providing a range of credit options to Cambodians and foreigners, ...

Cambodia’s microfinance sector experienced another year of explosive growth, with both lending and deposits surging over 40 per cent in 2015, according to new data by an industry association. ...

The double-digit growth of consumer lending in Cambodia has created a need for a comprehensive and centralised database of individual credit histories. The Post’s Cam McGrath sat down with Pascal Ly, CEO of the Credit Bureau Cambodia (CBC), to discuss the role of the Kingdom’s ...

Banking industry insiders expressed concern yesterday over a spike in the amount of delinquent debts reported by microfinance institutions (MFIs) across the Kingdom, which they attributed to farmers struggling to repay their loans after adverse weather conditions affected their crops. ...

The rapid growth in the number of Cambodians using mobile money services to transfer remittances is a positive step towards greater financial inclusion, and is serving as a gateway to financial services for the largely unbanked rural population, experts said yesterday. ...

Cambodia’s beleaguered rice millers can now breathe a sigh of relief after a tumultuous three months in what seemed to be government ineptitude in disbursing an emergency loan of $30 million to prevent them from becoming insolvent. In June, the Cambodia Rice Federation (CRF) announced that ...

State-run energy utility Electricité du Cambodge (EdC) has asked banks and microfinance institutions (MFIs) to stop using third-party services to collect payment of customer electricity fees, local media reported yesterday. ...

In its 10th year, Cambodia’s growing microfinance sector has seen stellar credit and deposit growth. But concerns remain over this speed of credit growth in the sector, as well as the rise in unlicensed lenders operating in rural areas. ...

Sovannaphum Life Assurance Plc, a joint venture between Canadia Investment Holding and Muang Thai Life Assurance, last week officially opened its office in the Kingdom to provide services to Cambodians. ...

Sok Rasmey (not his real name) works for an NGO in Phnom Penh with a salary of $350 a month. This is usually enough to cover his modest living costs, but when urgent expenses arise, he often looks to borrow to cover his costs. Ashamed ...

Amret Microfinance Institution, one of the largest in Cambodia’s crowded market, yesterday announced it had received an A- rating from independent rating agency Microfinanza, which is based in Italy, for improving its operation and for its strong performance over the past year. ...

The Singapore investor of Le Urban Eco Park, an ecologically-friendly satellite city, and Maybank have reached a deal to sell residential apartments and shop buildings in the park as the project nears completion by the end of the year. ...

Thailand’s Bank of Ayudhya PLC., known more commonly as Krungsri announced last week that it was entering the Cambodian microfinance market with the acquisition of Hatta Kaksekar Limited (HKL). In a press release, Krungsri ‒ itself part of the Japanese-based Mitsubishi UFJ since 2013 ‒ described ...