PHNOM PENH: Secretary of State of the Ministry of Social Affairs, Veterans and Youth Rehabilitation and Secretary General of the Disability Action Council, Mr. Em Chan Makara encouraged and supported financial training related to loans to person with disabilities so that they have the knowledge to use loans right and does not affect their life.
Addressing the Meeting between the Secretary General of the ACCESS Disability Action Council and the partners of ACCESS (Good Return organization and Chamroeun Microfinance Plc) on 30 March 2022, Mr. Em Chan Makara said that financial literacy training for person with disabilities is important to ensure their real growth.
He said: "I am impressed and happy to be working with our target group on this financial work, but this does not mean that we have to lend to person with disabilities, They need to be trained if can to help train officials of the Disability Action Council (DAC) related to financial management before deciding to borrow money from the bank and can build a plan to reduce debt, to do what, what income and what costs?”
ACCESS Program Director An Ro Khieu said that ACCESS has developed an initiative called CAFE that provides education and training to person with disabilities on knowledge related to loan management, how to manage and repayment. She said that through this practice, most person with disabilities have acquired knowledge and can better manage their loans.
She said: "Speaking of CAFE, it is to increase the profit of the borrower to study this course, they have to study for 5 days and 6 modules so that they know how to manage the time when borrowing money,"
The Australia-Cambodia Partnership for Sustainable and Equitable Services (ACCESS) aims to create accessible and ethical finances for person with disabilities aimed at promoting entrepreneurial activity and generating sustainable income.
The initiative has three main outcomes: first, to provide person with disabilities with financial literacy training to increase their knowledge and confidence in choosing appropriate financial products and, using them responsibly by using a positive attitude to reduce their vulnerability to financial crisis or debt. Second, by reducing access barriers by facilitating a network of financial services that are convenient for person with disabilities; and third, providing appropriate financial services to meet the needs of person with disabilities and incorporate security protections. In addition to reduce their financial vulnerability.
A report on the assessment of the need for access to financial education and access to finance for person with disabilities in Cambodia shows that more than 60% of person with disabilities have little or no confidence in making changes to family financial decisions or talking to financial services providers.
The report also shows that 76% of person with disabilities do not monitor their family finances and 50% lack confidence in their ability to save money, 80% feel that they are too stressed or severe about their family financial situation.
However, 90% of person with disabilities see the benefits of training to help them manage their finances, while 10% say they have already received training.
