Nonperforming microloans swell due to floods
Total outstanding loans in the microfinance sector reached $815.47 million in the third quarter, a 25.8 percent rise compared to beginning of the year, according to data released yesterday by the Cambodia Microfinance Association (CMA)… Despite growth in the sector, microfinance institutions said nonperforming loans were on the rise due to the damage inflicted on agricultural communities by flooding that has gripped the country during the past month…
