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Cambodia Microfinance Association (CMA) members have restructured more than $1.4 billion in loans for nearly 300,000 borrowers since March 27, 2020. Heng Chivoan
Over 100 CSOs call for debt relief
Tue, 6 April 2021
A coalition of 103 civil society organisations (CSOs) reiterated a call for the government to issue a set of guidelines for all financial institutions in Cambodia to suspend loan payments, set interest rates to zero per cent and waive accrued interest for at least three months to help borrowers during the latest Covid-19 pandemic surge.
The move would allow debtors to remain at home and stay safe during the pandemic, free of the fear of losing their land or housing over unpaid debt, according to the CSOs’ April 6 joint statement.