Phnom Penh (FN), Mar. 30 – Cambodian Prime Minister Hun Sen announced that the Royal Government of Cambodia considered allocating USD 500-600 million to banks and microfinance institutions at low interest rates.
“We consider allocating USD 500-600 million of government budget to banks with low interest rates so banks will give loans to citizens and businesses with lower rates,” the premier said.
Strongman Hun Sen also appealed to the private sector and property owners to grant preferential treatment to customers and leasers by delaying payment deadlines or offering lower interest rates.
Governor of the National Bank of Cambodia Chea Chanto, on 21 March 2020, advised banks and financial institutions to pay attention to four vulnerable groups including tourism sector (food, accommodation, and service); garment sector (employers and workers); construction (first house and restaurant); and transportation (taxi drivers, tuk tuks, and logistics).