The loans are also seeing farmers put assets including their land up as collateral, even when the loans are high-interest and have short repayment windows. Taylor Weidman | Bloomberg | Getty ImagesNGOs estimate around 167,000 Cambodians have sold their land to pay microfinance loans over the last five years. A 2016 book published by the World Bank argued microfinance loans had reduced poverty and increased incomes in Bangladesh, and banking giant HSBC still promotes its funding of microfinance in the country. But the World Bank, an early and longstanding advocate of microfinance, has also been warning for years of risks including overindebtedness and the growing commercialization of the industry. In the capital Phnom Penh, she added, she commonly meets people working seven days a week to pay off spiraling MFI loans.

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