MFIs watch rice loans
The country’s financial institutions are closely monitoring loans that have been made to rice farmers, who say that this year’s fall in rice prices will affect their ability to make repayments, industry officials said yesterday. Last year, farmers were paid around 840 riel ($0.21) per kilogram of unmilled rice. This year, farmers across the country have said that they are being offered closer to 600 riel. The situation led to a protest in Battambang province on Sunday. The next day, the Rural Development Bank (RDB) announced that rice millers in the country will now be able to access the government’s promised emergency loan of $20 million to purchase rice from farmers at 840 riel in a bid to prevent prices falling further. …
May Kunmakara
http://www.khmertimeskh.com/news/30035/mfis-watch-rice-loans/
