Logo of Phnom Penh Post newspaper Phnom Penh Post - MFI loans up 10.8pc

MFI loans up 10.8pc

MFI loans up 10.8pc

OUTSTANDING loans at microfinance institutions (MFIs) rose 10.8 percent to US$485.1 million in 2009, from $437.7 million in 2008, figures from the Cambodian Microfinance Association (CMA) revealed Sunday.

The data were collected from 20 MFIs in the Kingdom and included $192.9 million of small loans at ACLEDA bank, considered a hybrid lender.

Numbers of portfolios deemed at-risk and non-performing loans increased to 2.86 percent, equivilant to $8.5 million, from 0.67 percent in 2008.

The figure was slightly lower than the 3 percent rate predicted last week by Hout Ieng Tong, president of the CMA.

The number of borrowers dropped by 17 percent to 878,559 last year from 1.03 million in 2008.

Last year's figures marked the worst performance by MFIs in recent years as the global financial crisis made it difficult for the sector to access funds for lending and the number of bad loans rose.

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