Come floods or high waters, most MFIs continue to loan
After experiencing decades of floods, Cambodia’s microfinance institutions say they no longer have problems disbursing loans during the rainy season, according to the head of Cambodia’s Microfinance Association (CMA). A survey issued early this year by a coterie of international aid organisations, including Oxfam, Care, PACT and CRS, showed that about 400 households were affected by the floods last year. It said before the flood, nearly two-thirds of the families took some debt from microfinance institutions and unofficial lenders. Because of flooding, about 48 per cent of families took an additional loan worth an average of approximately US$635. … During the closing of the annual meeting of the Ministry of Rural Development, Prime Minister Hun Sen called for all Cambodia’s MFIs to help the victims.
