microfinance
Bank and microfinance institution offices in Phnom Penh (Matt Surrusco)

World Bank-Linked Watchdog Accepts Complaint on ‘Reckless’ Microloans

The watchdog group within World Bank sister organization International Finance Corporation (IFC) will assess a wide swath of the Cambodian microfinance sector after accepting a complaint alleging these lenders’ practices have caused social harms, civil society groups announced today.

Bank and microfinance institution offices in Phnom Penh (Matt Surrusco)

Opinion: Amid Rising Debt, a Case for Personal Bankruptcy Law, Stronger Protections

Overindebtedness was a growing problem in Cambodia even before the pandemic struck. According to the Cambodia Socio-Economic Survey of 2019-2020, the average outstanding loan of $4,435 per household was an increase of around 85 percent compared to 2017 and a significant increase of 339 percent compared to 2014.

woman counting riel (Aaron Gilson/Creative Commons)

Man Murdered Wife Over Mounting Microfinance Debt, Officials Say

A 70-year-old man in Kampong Speu province confessed to stabbing his second wife to death because she had fallen deeply in debt, borrowing from private lenders to pay microfinance institutions and vice versa, local police and a commune chief said.