Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Blueprint blues

Blueprint blues

The Cambodian Community Finance Network and the Canadian Cooperative Association

have criticized the government's draft Financial Sector Blueprint 2006-15, released

in August.

They say the draft misses a major opportunity to strengthen village economies through

community finance, because it declares the commercial banking sector to be the only

reliable source of community microfinance, sidelining local savings options,

The two groups say many rural Cambodians save at home because they are intimidated

by the commercial banking sector's microfinancing delivery channels.

Their research suggests that about US$60 million a year is lost by rural households

saving money at home, due to factors such as water and insect damage of cash and

jewellery and loss of livestock.

The release says promotion of village-level microfinancing would make structured

saving more accessible to rural people, helping to rescue them from the poverty trap.

0

Comments

Please, login or register to post a comment

Latest Video

Khmer New Year games: it’s never too late to try them out

Even though games such as “Fight for the leaf” or “Hide the towel” are traditionally played during the Khmer New Year holidays

Khmer New Year getaway: Ghost Island

One of 23 islands in the sea of Koh Kong, Koh Kmoch (Ghost Island) has a wealth of corals and other sealife visible through its crystal clear water.

ACLEDA’s boss on how tech is changing financial services

In today’s world of fast-changing technology, Cambodia is seeing increasing innovation in financial services.