Not Enough Credit for Cambodian Women
Posted: Fri Aug 30, 2019 12:49 am
IFC: $4.2B unmet credit for Kingdom’s businesswomen
29 August 2019 | 23:21 ICT
The International Finance Corporation (IFC), a member of the World Bank Group, has said Cambodian women entrepreneurs continued to struggle with limited access to financial loans for business expansions.
The IFC claimed in a report published last week that the prevalent belief that women entrepreneurs in Cambodia are less outgoing and have a lack of leadership skills and the required initiative to run a business is a misconception.
The report said 90 per cent of small and medium-sized enterprises (SMEs) owned by women were profitable last year.
However, the IFC found that only three per cent of women entrepreneurs have access to formal credit from microfinance institutions and banks. It estimated that the unmet demand for credit from women entrepreneurs is currently $4.2 billion – a figure that’s equivalent to almost 63 per cent of Cambodia’s national buget of $6.7 billion for this year.
“Most women in the country use their funds to start a business or rely on informal sources and savings to expand their businesses,” the report said.
The study found that disparities in social gender norms and access to education in Cambodia continue to create a barrier for women in accessing markets and information, as well as causing other issues with operating businesses.
https://www.phnompenhpost.com/business/ ... inesswomen
29 August 2019 | 23:21 ICT
The International Finance Corporation (IFC), a member of the World Bank Group, has said Cambodian women entrepreneurs continued to struggle with limited access to financial loans for business expansions.
The IFC claimed in a report published last week that the prevalent belief that women entrepreneurs in Cambodia are less outgoing and have a lack of leadership skills and the required initiative to run a business is a misconception.
The report said 90 per cent of small and medium-sized enterprises (SMEs) owned by women were profitable last year.
However, the IFC found that only three per cent of women entrepreneurs have access to formal credit from microfinance institutions and banks. It estimated that the unmet demand for credit from women entrepreneurs is currently $4.2 billion – a figure that’s equivalent to almost 63 per cent of Cambodia’s national buget of $6.7 billion for this year.
“Most women in the country use their funds to start a business or rely on informal sources and savings to expand their businesses,” the report said.
The study found that disparities in social gender norms and access to education in Cambodia continue to create a barrier for women in accessing markets and information, as well as causing other issues with operating businesses.
https://www.phnompenhpost.com/business/ ... inesswomen