NBC Issues $33B Worth of Ncds May Kunmakara Investment Option for Their Short-Term 10.9 Trillion Riel ($2.7 Billion) Last Year
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TUESDAY, JANUARY 26, 2021 Intelligent . In-depth . Independent Issue Number 3592 / 4000 RIEL SIEM REAP AIRPORT ‘CHAIN’ HORTICULTURE THAILAND: VEHICLES EMPLOYEES RALLY PROJECT EXTENDED EMITTING BLACK AGAINST LAYOFFS FOR 2021-2022 PHASE SMOKE FACE FINES NATIONAL – page 4 BUSINESS – page 7 WORLD – page 11 NBC issues $33B worth of NCDs May Kunmakara investment option for their short-term 10.9 trillion riel ($2.7 billion) last year. their goal was to support businesses moo told The Post on January 25 that liquidity needs to keep their business In March, the NBC introduced a de- as they battle the effects of the Covid- NCDs are a financial tool that contrib- HE National Bank of Cam- activities afloat amid Covid-19. duction of the interest rate on NCDs 19 outbreak on the economy. utes to the development of the sector. bodia (NBC) issued $33.4 Predominantly bolstered by a surge and four other financial measures to “The purpose of these policies is “NCDs are vital short-to-medium billion worth of negotiable in demand from commercial banks, open access to credit, providing fi- to support economic growth as the term money market instruments sole- certificates of deposit (NCD) the NBC issued $30.8 billion in dollar- nancial institutions with the liquidity country faces the Covid-19 threat. The ly available on the market. Banks have Tto financial institutions last year, denominated NCDs last year, surging required for them to lend in support of NBC continues to closely monitor the high demand for NCDs to manage their marking a sharp increase of more 45.3 per cent from 2019, the central businesses reeling under the pandemic. development of the situation inside excess liquidity and provide guaran- than 40 per cent compared to 2019. bank said in its annual report. Speaking to the media via video link and outside Cambodia,” she said. tees for funding [in Cambodian riel]. This, it said, provided banks and NCDs issued in the local currency during the rollout of the measures, Phnom Penh Commercial Bank Plc other financial institutions another on the other hand clocked in at a mere NBC director-general Chea Serey said (PPCBank) president Shin Chang- CONTINUED – page 6 One dead, three ill after eating worms found on palm tree Khouth Sophak Chakrya “According to the doctors’ foren- sic examination and statements ONE man died and another by the victim’s friends and rela- three fell ill after eating worms tives, Lean’s death was caused by they had foraged from a decay- eating too many worms, resulting ing palm tree in their village’s in poisoning,” Moeun said. paddy fields in Chamroeun Sen Kong village chief Som commune of Preah Vihear prov- Sourth told The Post that the ince’s Sangkum Thmei district. worms are considered to be a District police chief Chuon Moe- delicacy, especially those found un said all four are residents of the in palm and coconut trees, and commune’s Sen Kong village. he had never heard of them Moeun told The Post that on the being harmful to one’s health. morning of January 24, Mao Sourth said, however, that Lean, 28, and his three neigh- there are worms covered in bours – Poy Vin, 28; Dim Sophea, hairs with dark skin that can be 15; and Prach Pisey, 9 – had used poisonous if too many are eaten an axe to cut down a decaying and those worms are often palm tree in the middle of the found in decomposing wood or paddy to catch worms to eat. piles of rubbish. Citing Vin’s description of the “I like to eat the worms from incident, Moeun said the four palm and coconut trees. They A growing crowd had taken about 1kg of the are delicious and provide almost Farmers are being stopped by police during a rally in support of the ongoing farmers protest against the Indian central government’s recent worms from the decaying palm as much energy as beef. Some- agricultural reforms in Mumbai on Monday. AFP tree. They then deep-fried the times I eat them raw and it has worms for dinner after season- never caused me any health ing them with salt. problems,” he said. Approximately two hours Sourth said Lean’s death might Covid put billions in ‘decade-long poverty’ later they all began to feel dizzy be due to his having eaten some and suffer from headaches, of the poisonous worms on acci- THE Covid-19 crisis is aggravating ine- est to recover,” said the Oxfam report. robust recovery over the next year. stomach-aches and diarrhoea. dent if both were present in the quality, with the richest quickly getting Oxfam also highlighted the fact that Oxfam argued in its report that fairer In an attempt to get rid of the decaying tree and were carelessly richer while it will likely take years for the the impact of the virus is also being felt economies are the key to a rapid eco- symptoms, they immediately mixed with the edible worms. world’s poorest to recover, anti-poverty unevenly, with ethnic minorities in nomic recovery from Covid-19. made lemon tea mixed with According to a research paper group Oxfam said on January 25. certain countries dying at higher rates It calculated that a temporary tax on honey and drank it except for by the National Institute of In a report entitled The inequality and women being overrepresented in excess profits made by the 32 global Lean, who refused the drink and Nutrition of India published in virus, the group warned that the pan- the sectors of the economy that are corporations that have gained the most went to sleep. June 2000, palm worms are demic is the first time since records hardest hit by the pandemic. during the pandemic could have raised At around midnight, Lean widely considered to be edible began that inequality is rising in virtu- The report is timed to coincide with the $104 billion in 2020, an amount it said awoke with a severe stomach- by food experts and nutritionists ally every country at the same time. start of the World Economic Forum’s vir- was enough to have provided unem- ache and diarrhoea. His family and are a good source of protein, “The 1,000 richest people on the plan- tual Davos event – an entire week of global ployment benefits for all workers and tried to bring him to Sangkum carbohydrates, vitamin A and et recouped their Covid-19 losses with- programming will be dedicated to helping financial support for all children and Thmei District Referral Hospital vitamin E. No mention is made in just nine months, but it could take leaders choose innovative and bold solu- elderly people in low- and middle-in- but he died en-route. of any poisoning dangers. more than a decade for the world’s poor- tions to stem the pandemic and drive a come countries. AFP THE PHNOM PENH POST Youths urged to participate National in Cambodia STEM Festival Inside page 5 2 THE PHNOM PENH POST JANUARY 26, 2021 WWW.phnompenhpost.COM National Thai overpass collapse injures Officials reconsider Cambodian migrant workers workers’ benefits in construction sector Long Kimmarita ance under the NSSF to those working in the construction GOVERNMENT officials in sector. This is the work we conjunction with labour repre- have been doing with the gov- sentatives are addressing chal- ernment. In particular, we are lenges facing workers in the preparing a health and safety nation’s construction sector to policy for Cambodia with sup- upgrade working conditions, port from the labour minis- especially workplace safety try, but this policy has not yet and compensation benefits. been approved,” he said. Representatives from the Sophorn expected proac- Ministry of Labour and Voca- tive participation from the tional Training and Ministry government to address with of Land Management, Urban urgency the risks faced by Planning and Construction met construction workers. members of the International Labour ministry spokesman Labour Organisation (ILO) and Heng Sour told The Post that the local labour unions on January government was making prog- 22 to discuss measures for im- ress to improve occupational proving social protections for health and safety standards in construction workers. the construction sector. Sok Kin, president of the He pointed out that perma- Building and Wood Workers nent construction workers Trade Union Federation of are already entitled to receive Cambodia (BWTUC), said del- many benefits set by law, egates discussed establishing including NSSF insurance. fixed wages for construction Subcontracted construction workers and plans to include workers or temporary work- Seven Cambodian migrant workers were injured when an overpass under construction in Nokor Reach, Thailand, suddenly collapsed. CENTRAL them under the National So- ers receiving daily allowances cial Security Fund (NSSF). were not covered, but the Mom Kunthear full by their employer’s insur- Koung said Cambodian em- and Human Rights (Central) Kin added that partici- ministry is pursuing addi- ance. The workers who are bassy officials had visited the programme manager Khun pants also discussed health tional studies of these issues. EVEN Cambodian mi- still being treated and cannot injured workers and brought Tharo said most construction and safety-related challenges Meas Vichhekar, a construc- grant workers are be- return to work as yet will still along some donations for projects in Thailand were done faced by construction workers tion worker in Phnom Penh, ing treated for injuries receive their wages according them such as milled rice, noo- with foreign labour includ- in order for stakeholders, and expressed satisfaction that that range from mild to the law,” the embassy said. dles, canned fish, soy sauce, ing many Cambodian migrant the government in particular, stakeholders were taking up Sto serious after an overpass Ministry of Foreign Affairs face masks, alcohol and mon- workers, most of whom work to find solutions together.