(Posted by CAAI News Media)
Rose City development to finish by mid-2011
Monday, 07 December 2009 15:00 Soeun Say
Bassac Garden City says work on its US$70 million Rose City Condominium development along the Tonle Bassac will wrap up by mid- 2011. The project, which consists of four 28-storey buildings, is being financed by Canadia Bank. Bassac Garden City is owned by the Overseas Cambodian Investment Corporation (OCIC), which has the same owners as Canadia Bank. The Ministry of Land Planning, Urban Management and Construction said it intends to inspect the development shortly.
MFIs encouraged to take deposits
Monday, 07 December 2009 15:00 May Kunmakara
National Bank of Cambodia Deputy Director General Kim Vanda called on microfinance institutions (MFIs) to take advantage of government rules allowing them to take deposits from customers at a two-day workshop that ended Friday aimed at strengthening the domestic micro-credit sector. He said deposits would reduce reliance on foreign lenders, which he said drives up interest rates. Just two of the 20 domestic MFIs are licensed to take deposits, he said. Sector representatives also vowed to push ahead with a credit bureau to track loans and prevent borrowers from taking out multiple loans from different lenders.
No comments:
Post a Comment