CambodiaChhun Vichet
With a loan of EUR 9,000 Vichet is able to purchase more hectares of pepper plantation to grow more pepper.
€9,000
3.00%
24 months
6 months
EUR
Currency| Amount | €9,000 |
| Interest | 3.00% |
| Maturity | 24 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Chhun Vichet and his wife are farmers who live with two children in Tboung Khmum province. They grow pepper to earn as main income to support their family. Vichet started pepper plantation in 2011 for just half hectare but he earns more income since the price is very good. Currently, he is able to grow two hectares of farmland.
Since the pepper plantation is making more profit to support the family, he and his wife are requesting for a loan to purchase one hectare of pepper plantation to grow more pepper. income.
| Company name | Phillip Bank |
| CEO | Vichet Chhun |
| Founded | 2011-01-01 |
| Location | Memot |
| Sector | Agriculture |
| Turnover | €56,487.27 |
| 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 3 jobs are created
- With this investment 12 lives are improved
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We have already contributed to Chhun Vichet
Rob de JongGerard de JongJos Dingemans