Cambodia's microfinance lenders see 13 pct rise in Q1 lending

01-May-15 Cambodia Herald

PHNOM PENH (Xinhua) -- Cambodia's 40 Microfinance Institutions (MFIs) had reported a 13 percent rise in loan disbursements in the first quarter of 2015, said a consolidated data released by the Cambodian Microfinance Association (CMA) on Thursday.

The MFIs had lent about 2.29 billion U.S. dollars to customers as of March this year, up 13 percent from 2.03 billion U.S. dollars at the end of last year, the data said, adding that around 1.78 million customers had borrowed money from the MFIs.Meanwhile, the customers'deposits at the MFIs saw a 12 percent increase to 1 billion U.S. dollars from January to March this year, the data said, adding that 1.77 million people had deposited money at the MFIs. "The growth truly reflects customers'confidence in the microfinance lenders and better economic situation,"said CMA's president Bun Mony.Cambodia sees MFIs as a key player in helping the government reduce poverty in rural areas and the sector has been well developed in the last decade.