People across the country had to borrow money through microfinance of up to $ 3,500. This is the assertion of Interior Minister Sar Kheng in ceremony took office Director General and head of the Administrative Department under the General Department of the Ministry of Interior on Monday. According to the minister not contend with the amount of money people borrow some non-governmental organizations and associations also illegal.
In this regard, he Ley Cambodian society to monitor the situation to see that these loans are not profitable to the people, but the contrary is the more people make difficult. He added that many microfinance institutions make citizens more debt. And the final result is to provide citizens and microfinance consequences.
To monitor the situation, he added: 'Micro now grown, but most of these institutions offer private loans. And the rivalry that sometimes borrow not one where people are 2 to rotate the other. It did not provide benefits to people, because there is high interest. Residents in the survey was 85 percent, they can earn more than $ 2 a day. Interest and inappropriate civic last people face difficulties selling land and home sales results ahead can also affect these microfinance.
According to Ley government should expand its potential by creating local savings to citizens as much to facilitate difficult for people to reduce loans pay interest.
