PHNOM PENH, Feb. 2 (Xinhua) -- Cambodia’s Microfinance Institutions (MFIs) on Thursday reported 49 percent growth of loan disbursements last year, according to the report of the National Bank of Cambodia (NBC).
The kingdom’s 31 micro-lenders had lent 652 million U.S. dollars as of December last year, a 49 percent rise from 437.6 million U.S. dollars at the end of 2010, said the report.
The figures also showed that the number of borrowers had increased by 15 percent to 1.17 million from 1.02 million.
Cambodia sees microfinance as a key sector for poverty reduction in rural Cambodia and the sector has been well developed in recent years, Pal Buy Bonnang, director general of the NBC’s banking supervision department, said Thursday.
Generally, the maximum size of a loan the MFI lends is 10,000 U.S. dollars.
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