Cambodia’s microfinance industry reportedly has announced measures to assist its borrowers that were affected by floods between September and November 2011. The Cambodian Microfinance Association (CMA), an NGO, stated that CMA members “already eliminated interest on loans to families affected by last year’s floods and would not seize property from flood victims in the event of default.” Some CMA members have also suspended repayments. These measures had not been publicized previously due to concerns “of an influx of false claims.” Approximately one percent of microfinance borrowers have struggled to repay loans [1].
As of 2010, the 17 microfinance institutions (MFIs) in Cambodia that report to the US-based nonprofit Microfinance Information Exchange (MIX) have aggregate deposits of USD 952 million, 865,000 depositors, a gross loan portfolio of USD 1.2 billion and 1.2 million active borrowers.
By Brendan Millan, Research Associate
About Cambodian Microfinance Association (CMA): CMA is an NGO that was formally established in 2004 by seven microfinance institutions (MFIs). As of December 31, 2011, CMA has 30 active members. Its main function is to increase communication among MFIs and other groups such as government authorities, donors, creditors and investors.
Sources and Resources:
[1] Phnom Penh Post: “MFIs claim Efforts to Help Flood Victims” by May Kunmakara. http://www.phnompenhpost.com/index.php/2012022454698/Business/mfis-claim-efforts-to-help-flood-victims.html
MicroCapital.org Article, April 19, 2010, “Cambodian Microfinance Association Reports Improved First Quarter Performance Over Last Quarter for Microfinance Insitutions (MFIs) in Cambodia”, https://www.microcapital.org/microcapital-brief-cambodian-microfinance-association-reports-improved-first-quarter-performance-over-last-quarter-for-microfinance-institutions-mfis-in-cambodia/
MicroCapital.org Article, January 25, 2010, “ President of The Cambodia Microfinance Association (CMA) Describes 2009 as a Difficult Year for Microfinance in Cambodia”, https://www.microcapital.org/microcapital-brief-president-of-the-cambodian-microfinance-association-cma-describes-2009-as-a-difficult-year-for-microfinance-in-cambodia/
MicroCapital.org Article, January 22, 2010, “Cambodian Microfinance Association (CMA) Reports Poor 2009 Performance for Microfinance Institutions in Cambodia”, https://www.microcapital.org/microcapital-brief-cambodian-microfinance-association-cma-reports-poor-2009-performance-for-microfinance-institutions-in-cambodia/
MicroCapital Universe Profile: Cambodian Microfinance Association (CMA), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Cambodian+Microfinance+Association+%28CMA%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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