Give indebted Farmers a Break: PM

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Khmer Times/May Kunmakara

Prime Minister Hun Sen yesterday called on banks and microfinance institutions (MFIs) to suspend loan repayments by borrowers affected by this year’s drought, or either make the loans interest free or cut the rates.

“Financial institutions and banks need to work closely with MFIs to find some concessional methods to help drought-affected farmers who are unable to make loan repayments,” Mr. Hun Sen said on his Facebook page.

To prevent people from having their homes and land seized, he said loan repayments should be delayed, made interest free or have the interest rate reduced. Water shortages have been severe this year, and rice farmers have been hardest hit – both dry- and wet-season farmers, the prime minister said. He also urged officials to pump more water into rice fields to prevent rice paddies from being damaged.

read more: http://www.khmertimeskh.com/news/18453/give-farmers-a-break--pm/