Government and Microfinance Victims' Struggle Committee Reach 5-Point Agreement
Summary
The government and the Microfinance and Financial Exploitation Struggle Committee have reached a 5-point agreement to address the issues faced by microfinance victims, including ending protests and establishing a rehabilitation action plan.
Key Points
- A 5-point agreement was reached between the government and the Microfinance and Financial Exploitation Struggle Committee to solve microfinance victims' problems.
- The Ministry of Finance will receive an action plan within 15 days to implement the report by the task force on microfinance victims.
- Rehabilitation programs for troubled microfinance borrowers and a review of blacklisting and collateral auction provisions were agreed upon.
- The Ministry of Home Affairs will take legal action against illegal activities by microfinance institutions, including harassment and property seizure for loan recovery.
