"‘How Can We Continue?’ – Run Ta Ek Families Struggle With Extreme Heat, Unregulated Lending", 14 May 2024

Inside the metal house, under a roof made of zinc that soaked up the sun, Mey Leakhena’s one-year-old boy couldn’t cool down…

She took her son to the local health center for a glucose drip, but he was so sick he was transferred to a Siem Reap hospital for three nights. Altogether, she borrowed 350,000 riel during his illness – about $85 she can’t afford on top of the $3,500 that she’s already in debt.

…, she stood on a Siem Reap city street, searching for a new private lender who, she had heard, would give her a lower interest rate than the 10% offered by others. She had tried opening a shop in Run Ta Ek, but like her neighbors’ businesses, it failed without any customers to keep it afloat…

… Families in Run Ta Ek told … they wanted to upgrade their homes to protect against the heat, and now as seasonal rains arrive, flooding. But even before being evicted from Angkor park, residents were already indebted to microfinance banks, who allowed them to use state land in Angkor park as collateral.

… In an emailed statement, Wing Bank’s CEO Han Peng Kwang said the bank was not aware of the specific situation in Run Ra Ek but that “we are aware that informal lending practices exist in various communities in this country.” Bank policy is to only accept land and buildings, cash, and debentures as collateral; all other documents, including IDPoor, are not acceptable, he said…