A day after CNRP lawmaker-elect Mu Sochua appealed to microfinance institutions (MFIs) to ease up on interest rates and defer loan repayments and foreclosures for six months to alleviate the financial burden of flood-affected families, Prime Minister Hun Sen took up that very call on Friday. Speaking at the Council of Ministers, Mr. Hun Sen said the government would issue a written statement to banks and MFIs calling for understanding from private-sector institutions as clients grapple with tough decisions in the face of mounting debts due to flooding. “Samdech Hun Sen verbally appealed for microfinance institutions, creditors and
© 2013, The Cambodia Daily. All rights reserved. No part of this article may be reproduced in print, electronically, broadcast, rewritten or redistributed without written permission.

More...