[ti:Will High Cost of Small Loans Hurt Cambodians?+++高成本的小额贷款会伤害柬埔寨人吗?] [by:www.51voa.com] [00:00.00]更多听力请访问51VOA.COM [00:00.16]The Cambodian government has ordered a limit on interest rates on small loans. [00:08.04]The decision comes before local elections are set to take place in June. [00:15.68]The 18 percent limit on the microfinance industry interest rates takes effect on April 1. [00:26.16]Microfinance businesses operate in many developing countries. [00:32.52]They accept deposits and provide small loans to people in the developing world. [00:40.80]In Sokai is a 32-year-old Cambodian garment worker. [00:47.12]She recently received a microfinance loan of $5,000. [00:55.20]She must repay it within four years. [00:59.92]"I borrowed $5000 and I bought chickens, built the house, [01:06.44]and my husband bought a boat, fishing nets and other items," she said. [01:13.48]She will pay interest at a rate of 22 percent a year. [01:21.28]The new legislation will not reduce her loan payments [01:25.53]because the law has not yet taken effect. [01:29.84]Her loan is considered large for the Cambodian microfinance industry. [01:36.52]Seventy percent of microfinance industry, of MFI, loans are under $500. [01:46.92]Sokai had not heard of the new law. [01:50.52]But it has caused a lot of concern [01:53.32]among the private microfinance businesses in Cambodia. [01:59.72]Microfinance loans are usually for less than one year. [02:05.84]Their interest rates are very high -- 30 percent or more. [02:11.96]Microfinance industry supporters say this is necessary [02:17.60]because the costs of servicing small, risky loans are higher. [02:24.67]The high cost of the loans has not reduced demand, however. [02:31.32]Cambodia's microfinance industry is growing quickly. [02:38.36]In 2015, there were 1.5 million depositors and more than two million borrowers. [02:49.00]MFIs are in every province of the country of 15 million people. [02:57.08]Almost all the loans go to people living outside Phnom Pehn, Cambodia's capital. [03:05.88]Most borrowers are women. [03:09.56]The new law comes before local elections in June. [03:13.92]A national vote is to take place in the middle of 2018. [03:19.88]Supporters of the new law say the limit is meant [03:23.68]to protect Cambodians from paying high rates. [03:28.60]Lawmakers also want to increase access to Cambodia's financial system. [03:35.80]Borrowers often use their land or home as a security for the loan. [03:41.70]They can lose their property if they are unable to pay. [03:47.08]Interest rate limits are not unusual. Many countries have them. [03:53.20]But, the World Bank says they are becoming less popular. [03:58.72]Some industry observers, however, [04:01.76]say the law limiting interest rates will have a negative effect. [04:08.32]Stephen Higgins is with Mekong Strategic Partners. [04:13.45]The company gives business advice. [04:17.24]"Ideally we shouldn't have this cap. [04:19.36]The interest rates in Cambodia for these small loans, [04:22.80]they're actually amongst the lowest in the world. And people forget that." [04:26.16]Higgins says the cost of lending for small loans is high. [04:32.84]He says microfinance businesses need to charge a 30 percent interest rate [04:40.44]for a $500 nine-month loan to make a small profit. [04:47.96]Opponents of the limits say microfinance businesses may stop offering loans. [04:55.64]That, they say, will force rural people [04:59.44]to go to moneylenders who charge much higher interest rates. [05:05.84]The Cambodia Microfinance Association (CMA) [05:09.45]is a non-profit organization based in Phnom Penh. [05:14.04]It supports microfinance businesses. [05:18.04]It says its members will need to reduce costs [05:22.28]and become more efficient in order to survive. [05:27.12]Mey Kalyan is an economist and adviser to the government. [05:32.60]He supports the law. [05:35.20]He says it will help protect small farmers from agriculture-related debt. [05:41.56]He says that farmers who take out high interest loans of [05:46.24]30 percent or more struggle to make a profit. [05:52.16]CMA chairman Hout Ieng Tong says at least some CMA members [05:59.12]will still offer small loans. [06:02.52]But it is unclear whether the new interest rate limit [06:06.68]will hurt deposits in microfinance businesses [06:11.04]or will drive borrowers to higher-cost moneylenders. [06:17.20]I'm Mario Ritter. [06:19.08]And I'm Ashley Thompson. 更多听力请访问51VOA.COM