More than 40 members of the Cambodia Microfinance Association (CMA) have pledged to ease the financial burdens of the families of the fallen, disabled and injured soldiers who defended the Kingdom from Thai military aggression. They have also pledged their support for war-displaced individuals residing in refugee camps.
CMA spokesperson Kang Tonghy told The Post on August 6 that, following a call by the Cambodian government and the National Bank of Cambodia (NBC) urging banks and MFIs to help facilitate financial relief a total of 46 member institutions had announced their participation as of the evening of August 5.
Among them, there are 34 microfinance institutions (MFIs and MDIs), 10 rural credit institutions (RCIs) and 2 leasing companies.
He added that while 46 institutions have officially declared their participation, in reality, the number is far higher, as some institutions did not make formal announcements but are still providing direct assistance.
“Although some MFIs did not make public announcements, in general, they always follow the association’s guidelines, appeals or statements. They are focusing on providing assistance or debt relief not only for the families of fallen or disabled soldiers and those currently defending the territory, but also for displaced persons who have been relocated from conflict zones to safer areas” he stated.
The CMA has 132 members.
On July 29, Prime Minister Hun Manet requested that banks and MFIs in Cambodia consider forgiving or reducing debts for soldiers who were killed, disabled or injured while defending the country’s territorial integrity — starting from July 24 until the ceasefire agreement was reached on the night of July 28.
Following this appeal, the National Bank of Cambodia (NBC) issued the July 30 “Guidelines on Measures to Alleviate the Burden on People Affected by the Cambodia–Thailand Border Conflict” directive.
In addition to the 46 CMA members, 22 members of the Association of Banks in Cambodia (ABC) have also announced their intention to forgive or reduce debts for the families of fallen, disabled or injured soldiers.
