Phnom Penh: Prime Minister Hun Manet delivered a crucial message during the inauguration ceremony of "Wing Tower." He urged banking and financial institutions to consider loan restructuring to support tourism operators, particularly those in Siem Reap, who are grappling with financial challenges.

During his address, the Prime Minister emphasized the need to "encourage banking and financial institutions to restructure loans for the benefit of the tourism sector, especially in Siem Reap, enabling customers facing temporary financial difficulties to overcome these challenges without resorting to a 12-month resilience period."

The Royal Government has taken proactive steps to bolster this initiative by establishing a program designed to provide direct loans to operators in Siem Reap. These loans come with reasonable interest rates tailored to the specific nature of the businesses. Additionally, various incentives are being offered to help reinvigorate tourism in the Siem Reap region, which is renowned for its iconic temples and cultural heritage.

Prime Minister Hun Manet further called upon all banks to extend their support by offering loans to small and medium-sized microfinance enterprises and by increasing credit allocations to the agricultural sector. These measures are aimed at stimulating economic growth and fostering financial stability.

However, the Prime Minister also issued a cautionary note, advising banking and financial institutions to conduct thorough checks and assessments before granting credit. This careful evaluation process is essential to maintaining the stability of the banking system and ensuring that loans are extended responsibly.

As the tourism industry in Siem Reap and across Cambodia grapples with the ongoing challenges posed by the global pandemic, the government's initiatives to support operators and stimulate economic recovery are essential for the sector's revival.