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Cambodians face mounting pain from microfinance debt

Cambodians face mounting pain from microfinance debt
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Report Sounds Alarm on Cambodia's Expanding Industrial Gold Mines

The report “A Snapshot of the Gold Mining Industry in Cambodia: Rights Violations, and Environmental Damage” notes that a government official in 2007 touted the industry’s promise of reducing reliance on donor aid and funding everything from schools to infrastructure and social programs. ....

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Cambodian PM's First 100 Days Show Real Transfer of Power Yet to Come – The Diplomat

As expected, the new government led by Prime Minister Hun Manet has been a case of old wine in new bottles. ....

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'I am afraid I will kill myself, like my husband': spotlight on loan firms in Cambodia after Indigenous suicides | Global development

Microfinance was meant to reduce poverty, but borrowers allege they have been victims of ‘predatory’ loans and repayment tactics, which have led to desperation and deaths ....

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Microfinance was meant to help the world's poor, but in Cambodia, it's plunging people deeper into debt

Microfinance was hailed as a way to change the lives of hundreds of millions of people without access to credit. It worked so well that Grameen Bank founder Muhammad Yunus was awarded a Nobel Prize. But then, banks jumped in to get in on the profits. To manage high debt levels, Cambodians are migrating for work, eating less and even pulling their children out of school. ....

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