Green bonds, red flags: Cambodia’s microfinance crisis deepens amid sustainability push

Quick Summary:

Microfinance institutions in Cambodia, accused of predatory lending, are pivoting to green bonds while borrowers, burdened by debt and climate impacts, struggle to survive.

The chairperson of real estate company Golden Tree Co., which received support for a US$25 million green bond, was arrested for fraud in August in relation to an investment fund where he served as board member.

Cambodia has the highest microfinance debt-per-capita in the world, with borrowers across the country falling victim to predatory lending. Researchers and NGOs have documented cases where lenders pressured borrowers into selling their land or taking on high-interest loans from neighbourhood lenders.

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Article Details

Author / Journalist: Leila Goldstein, Eung Sea

Category: EconomyBusiness

Markets: SingaporeAustraliaCambodiaCanadaFranceNetherlandsSwedenSwitzerland

Topics: Logging World Bank Climate Global warming Livelihoods Workplace wellbeing Climate finance Climate justice Jobs Adaptation Poverty UN Climate risk Research Multilateral development bank Farming Crime Financing Corruption Healthcare Extreme weather Green bonds Heatwaves Investment Inequality Floods Natural disasters Greenwashing

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-11 @ 07:00:00 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 1569 words

Reading Time: 9 minutes read

Sentences: 58 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Eco-Business

News ID: 22997404

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