MFIs defy typically slow first quarter
Total loans and deposits at the Kingdom’s microfinance institutions jumped in the first quarter of 2012 despite what is typically a slow season for the industry, insiders said yesterday. Loans outstanding reached US$708 million for the period ending on March 31, climbing 9.8 per cent from the last quarter of 2011, according to the Cambodia Microfinance Association (CMA). … “Our economy is growing as we see all the sectors are improving. People need more money to do and to expand their businesses,” Amret CEO and president Chea Phallarin said. …
