CambodiaPrak Roem
With a loan of EUR 12,200 Roem is able to invest in a tractor to plough the land of his cassave farm.
€12,200
4.00%
36 months
6 months
EUR
Currency| Amount | €12,200 |
| Interest | 4.00% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Roem is a farmer and lives with his wife and two children in Kampot province. To earn a profit, He grows cassava on 5 hectares of farmland, while his wife sells fry banana, soup noodle, and foods from home.
Roem is asking for a loan to purchase a tractor to plow his farmland. The tractor is not only to use on his farmland but he also rent to the other farmers to plow the land for an additional income to help support his family. Must be repaid in 36 months.
| Company name | Phillip Bank |
| CEO | Roem Prak |
| Founded | 2005-01-01 |
| Location | Kampot |
| Sector | Agriculture |
| Turnover | €52,284.21 |
| Employees | 1 |
Impact
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.
SDG’s impacted
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.
- With this investment 1 job is created
- With this investment 4 lives are improved
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We have already contributed to Prak Roem
Aad SmitsMarlies Witteveen