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New Mortgage Program Helps Cambodia's Poor Find Better Homes

Daniel Zwerdling

April 04, 2013 |

NPR |

Radio |

5-15 Minutes

Response Location: Cambodia, Phnom Penh, Phnom Penh

An innovative program by an unusual bank allows low-income people in Cambodia to take out a 15-year fixed mortgage with little or no documentation - contradicting traditional loan assumptions and creating means for some of the country's poorest people to completely change their lives. The bank and its investors are now making a profit, and more than 700 mortgages and building loans have been provided.

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