$5.5 billion involved in credit restructuring programmes in Cambodia
The National Bank of Cambodia (NBC) said that a total of 370,785 accounts have under gone some form credit restructuring with financial institutions, involving up to $5.5 billion.
Chea Chanto, Governor of the National Bank of Cambodia said that the number of loan applicants had increased, especially after the outbreak of the February 20 community event last year.
At the same time, the National Bank of Cambodia has decided to allow banking and financial institutions to continue to restructure loans until the end of 2021.
Restructuring of loans was mandated to alleviate the burden of borrowers who are facing declining incomes and having difficulty repaying because of the direct effects of the Covid 19 epidemic.
Among the customers who were affected and allowed to restructure their loans involve four main areas: Tourism (hotels, guesthouses and restaurants, including food, beverages and other support services); Tailoring (including employees); Construction (only for home / shop construction loan and first home purchase loan) and Transportation (especially taxi drivers and tuk-tuks) and logistics.