Cambodia: COVID-19’s affected customers asked to discuss loan restructuring

• Apr 17, 2020

The Microfinance Association of Cambodia (CMA) has said that the association, including its members, are dealing with the clients of microfinance institutions affected by the COVID-19 epidemic on the loan restructure.

They said CMA remains open for official access to finance from the people through the financial system, and ensuring the finance is inclusive and sustainable. All CMA’s members have put strong effort to support affected customer by the COVID-19.
CMA’s members have been implementing and solving the issues based on their internal principal, based on the type of customers, impact, and actual situation for each customers by align with guideline of the National Bank of Cambodia.

“To have their loan restructured, all MFIs’ customers should contact to their lenders to discuss the situation and finding the solution based on the win-win strategy to continue develop the financial sector and national economy,” CMA said.

“For those customers who are not affected or slightly affected, and are able to pay the debt, CMA encourages them to continue their monthly payment, so that each MFI institution will use this opportunity to help the most affected customers,” it said.

CMA will work with its members to monitor closely the microfinance sector and will take immediate action to solve all the issues.