Micro-Lenders Drop Rates, Seek Borrowers

By Ros Sothea, VOA Khmer
Original report from Phnom Penh11 August 2009

Cambodia’s microfinance institutions are competing with each other with various strategies to extend growth, following a decline in their number of borrowers in the wake of the economic downturn.

The Prasac Microfinance Institution has implemented three strategies over the past two months in order to bring in more borrowers, said Sim Senacheert, general manager of the lender. These include the reduction of interest rates, of up to 0.6 percent, a loosening of credit requirements and promotions through the mass media. Read more...