CambodiaSophea Vorng
With EUR 14,600 Sophea can acquire two additional acres of farming land to grow cassave and rubber.
€14,600
4.00%
48 months
6 months
EUR
Currency| Amount | €14,600 |
| Interest | 4.00% |
| Maturity | 48 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Mrs. Vorng Sophea, 38, is married and lives with her husband and one child in Kratie province. She and her husband have six hectares of farmland, growing cassava and rubber. They have been working as farmers for more than 10 years. Besides the farming, her husband also own a pickup truck to transport agriculture products to have an additional income to support the family. The farming for these past years have been difficult since the price of cassava remain the same and rubber has been decreased, while the weather conditions have been provided less rain in raining season. However, Mrs. Vorng has digged out the pond as water supply for her cassava.
Mrs. Vorng and her husband are requesting for a loan from KREDIT to purchase another two hectares of cassava farmland. She believe that she will have more income through growing more cassava.
| Company name | Phillip Bank |
| CEO | Sophea Vorng |
| Founded | 2006-01-01 |
| Location | Kratie |
| Sector | Agriculture |
| Turnover | €21,854.86 |
| Employees | 2 |
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 Sophea Vorng
Ton Van der MeerJacques van den BoschCees van IperenRon van EijkJohan Feddema