With a loan of EUR 8,450 Vat is able to purchase more cows for her trading business and thus increase her income.
Vat, 51 (appears in the photo), married and blessed with three school aged children, lives in a village in the Kampong Cham province of Cambodia. To support the family’s living, he and his wife have been earning income from cultivating rice and trading cow since 1998.
Whit this loan Vat is able to expand her business by cultivating more rice and purchase more cows to sell.
Local partner Kredit provides the loan, which has to be repaid in 24 months.
|Company name||Tuon Vat|
|Location||Kampong Cham Province|
Phillip Bank is a microfinance institution in Cambodia that invests in people and their businesses via Micro-loans. By providing working capital to local entrepreneurs, they enable people in Cambodia to further expand their businesses and reach their potential for business growth and job creation.
Micro-loans are an effective tool against poverty. Research has shown that communities with more viable small local businesses have more balanced economies and higher average prosperity levels. Their turnover mainly flows back to their communities, ensuring economic growth and stability. The capital provided by Phillip Bank works towards sustainably improving families' financial well-being in rural and urban communities.
With this project you are contributing to the following Sustainable Development Goals:
SDG 1. No poverty
SDG 8. Decent work and economic growth
Read more about the impact you can make through our platform and the SDGs on our impact page.
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- With this investment 1 job is created
- With this investment 4 people are reached