The National Bank of Cambodia is now allowing banks and microfinances to continue restructuring loans for their customers who have been affected by the COVID-19 pandemic and a recent flash-flood until mid-2021.
The NBC said the regulator allows the restructuring loans up to three time.
“The Central Bank of Cambodia is allowing loan restructuring for all sectors which have been affected by the COVID-19 pandemic and flash-flood based on the actual evaluation from the financial institutions.
The restructuring of loans is conducted with the facilitation from the financial institution and customers through the actual situation and check the possibility to reduce the interest rate and other fee,” the NBC said.
All the financial institutions must implement this announcement and must monitor the restructuring loans regularly, according to NBC.