Debtors need mercy: CNRP
The opposition party has called on microfinance institutions to renegotiate payment terms with flood-affected loan holders.
This year’s floods have affected 20 provinces and more than 1.7 million people, with 31,314 households evacuated, according to the Humanitarian Response Forum.
The Cambodia National Rescue Party has asked that institutions lower interest rates to 1 per cent for a year, and waive repayments and land and asset foreclosures for six months.
In a party report on post-flood indebtedness due to be released today, the CNRP says those seriously affected by floods should be allowed to rebuild their livelihoods without the burden of loan repayments. …
CNRP public affairs head Mu Sochua said the opposition was not proposing “writing a blank cheque” to all families, but just to those most at risk, such as the estimated 20 per cent who live below the poverty line. …
Kevin Ponniah
http://www.phnompenhpost.com/national/debtors-need-mercy-cnrp
