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Trapped by Debt

15.01 02:15 Dauer: 45 Minuten

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The Vicious Cycle of Microfinance in Cambodia

Expectations were high. When Muhammad Yunus, the "banker to the poor” and founder of the Grameen Bank for microfinance in Bangladesh, received the Nobel Peace Prize for his work in 2006, it was clear to many that the principle of helping people to help themselves would lift many out of poverty.

From the 1980s to the early 2000s, microcredits were seen as one of the best tools for combating poverty. However, the loans, which were initially seen as a positive inflow of liquidity, quickly led to further financial obligations for many families. After all, interest had to be paid on these loans. Illegal lenders stepped in. The pressure on families became unbearable, leading to the sale of land, migration, the break-up of families and ultimately even suicide.

The film tells the stories of three Cambodian families. Along the way, it debunks the myth of microfinance as a tool that truly helps the poor. Told through the eyes of the protagonists and through their personal experiences, this film highlights the hardships faced by so many Cambodians because of debt.

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