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Search resuls for: "riel"


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By Chantha LachPHNOM PENH (Reuters) - In a small warehouse in Cambodia's capital, a group of workers sit and spin waste plastic bottles into strips, turning them into bristles for brooms, of which they churn out 500 each day. For the past 11 months they have transformed around 40 tonnes of discarded plastic bottles, about 5,000 bottles per day, by "upcycling" them into brooms they say are more robust than regular brushes. Cambodian entrepreneur Has Kea, 41, wants to reduce plastic pollution in his community, in a city that produces up to 38,000 tonnes of all types of waste each day, according to its environmental department. Kea buys empty plastic bottles from trash collectors and garbage depots. "This also help reduce pollution to the environment and encourages people to collect plastic bottles to sell to us at a higher price, which in turn, could earn them a better living," he said.
Persons: Chantha, riel, Suon Kosal, Juarawee Kittisilpa, Martin Petty, Alison Williams Organizations: Reuters, Kea Locations: Chantha Lach PHNOM PENH, Cambodian
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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