NGOs Demand Cambodia Suspend Debt, Interest Payments Amid Latest Coronavirus Outbreak rfa.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rfa.org Daily Mail and Mail on Sunday newspapers.
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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.
Nigeria: NIRSAL Beats COVID-19 Scourge, Facilitates N148 Billion Agribusiness Investment
Nigeria: NIRSAL Beats COVID-19 Scourge, Facilitates N148 Billion Agribusiness Investment
Despite the COVID-19 scourge that disrupted the global economy last year, Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) says the pandemic is not potent enough to stop its giant strides.
“In the course of the last 13 months, we facilitated the flow of over N30 billion into agricultural value chains from commercial banks and other sources. Even though our operations suffered a stall during the lockdown of 2020, our technological depth gave us a pathway to return to work while remaining safe and socially-distanced.
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NBC asks banks, MFIs to delay dividend payouts
Sun, 21 February 2021
The National Bank of Cambodia (NBC) called for all banks and microfinance institutions (MFI) to postpone dividend payouts to shareholders for 2020 in a move to safeguard the growth, stability and certainty of the sector against economic disruptions caused by the Covid-19 pandemic.
In an announcement addressed to the heads of Cambodia’s financial institutions and seen by The Post on February 19, the NBC suggested that they “suspend dividend payouts from profit after audit and prepare an appropriate ‘exit strategy’ for when the various [relief] measures come to an end”.
VIENTIANE (Vientiane Times/ANN): A group of business owners have set up an organisation to unite their strengths to drive the development of small and medium-sized enterprises in Laos.
A press conference to launch the Small and Medium Enterprise Promotion Association of the Lao PDR (Lao SME) took place in Vientiane on Wednesday (Feb 17).
The association has set up four main work plans for 2021. The first involves working with the Lao-Japan Microfinance Association and the Lao-Japan Human Resource Development Institute to help Micro, Small and Medium-sized Enterprises (MSME) members and entrepreneurs affected by Covid-19 and the effects of the ongoing recession in 2021.