Abstract
In order to explore the present development of Microcredit, the actual value to natives and future challenges microcredit faces in Cambodia, survey data, qualitative researches, and field experience have been utilized. The present stage and recent development of Microcredit in Cambodia were analyzed based on the survey data and statistical data. Throughout the research, I went to Cambodia and interviewed Cambodians about their real reflection under the local microcredit program. Survey data reveal that the usage of Microcredit in Cambodia has increased rapidly and continued to have a steady upward trend. Through the personal interview, we can find a positive reflection about microcredit programs’ improvement in native’s daily lives. However, the future development of microcredit organizations will not be plain sailing because the potential problems may emerge over time. Despite the deficiencies in the research process, this paper produces a detailed reflection of Microcredit’s impact on Cambodia and its future development, which has essential research significance.
Highlights
IntroductionWith the money borrowed from Microcredit, local Cambodians can start their own business, ensure primary healthcare, afford children's education, and even increase women's status
After identifying the difference between microcredit and peer-to-peer lending, part will be mainly focus on microcredit program in Cambodia
3 Microcredit in Cambodia: Founded in 1991, Khemara is the first and most exceptional Non-Government Organization (NGO) in Cambodia, which works with women and children and offers Microcredit
Summary
With the money borrowed from Microcredit, local Cambodians can start their own business, ensure primary healthcare, afford children's education, and even increase women's status. To keep its govern, Khmer Rouge tortured and executed the educated Cambodians in particular regions. In this way, the supply of younger workers dries up, and technology development ceases. Food production and young labor are remarkably low during this time, and this situation influences the future economic development of Cambodia. It is Cambodia's local custom that people spend money as much as they get. This means that local people in Cambodia do not have an awareness of saving, which is may a factor of the national economy stuck on a plateau of slow growth
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